Another fuel hike shock

According to the Automobile Association’s data, sourced from the Central Energy Fund, another substantial fuel hike is possible at the beginning of March.

Consumers could be paying up to 30 and 33 cents more per litre for petrol, and 26 and 18 cents more per litre for diesel and illuminating paraffin respectively, unless there was a turnaround in the next two weeks.

“International petroleum prices have risen and are offsetting a more stable exchange rate, raising the spectre of another substantial fuel price hike at the beginning of March,” the association said.

Despite the average exchange rate easing to about R11.10 to the US dollar in the first half of February, international petroleum prices increased, the association explained.