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Tuesday, July 23, 2024

Slight Increase in Fuel Prices Forecasted for February, AA

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The Automobile Association (AA) has warned South Africans of possible increases in the prices of all grades of fuel in February. 

“Consumers can expect a slight increase of around 11 cents per litre for ULP95, 14c/l for ULP93, and 9c for diesel. Illuminating paraffin is showing a slight decrease of around 3c per litre,” the AA said on Tuesday.

It was commenting on the unaudited mid-month fuel data from the Central Energy Fund (CEF).

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In a statement released by the the Association, motorists are urged to add a little extra to their fuel budgets for February.

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“The weaker rand to US dollar exchange rate is contributing most to the expected increases in fuel even if it is by a small margin.

“However, the more stable international oil prices are having the reverse impact resulting in the lower illuminating paraffin prices,” said the Association.

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The adjusted fuel prices is set to come into effect on 7 February.

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