JOHANNESBURG – There have been reports by the Automobile Association (AA) that citizens may experience another petrol hike.
Petrol may increase by 35 cents a litre. The Central Energy Fund (CEF) released an unaudited fuel price data mid-October.
The Automobile Association commented on this report. The last price hike was at the beginning of September were petrol increased by 67 cents a litre and diesel by 44 cents.
The data released by the Automobile Association suggests a month-end price hike of up to 35 cents a litre for petrol, 33 cents for diesel, and 29 cents for illuminating paraffin. Petrol hikes are dependent on the strength of the rand.
According to the Automobile Association the rand is currently strong. Reports have shown a reasonable strength when compared to the US dollar.
The Automobile Association has suggested that had the rand not been strong the petrol price hike would go up to 50 cents a litre.
The price of petroleum products in the international markets is also one of the biggest contributors to petrol price hikes.
Petrol prices are highly influenced by international factors. At some point a hurricane hit Texas and the flooding caused the closure of some refineries.
Petroleum products prices hiked at that stage due to shortages.
Confirmation of petrol price hikes is still to be made by the Energy Minister.