CAPE TOWN - A fuel price hike is expected on Wednesday that will see South Africans pay close on R20 a litre in the run up to Christmas.
The Automobile Association (AA) said the November fuel price hikes announced by the Minister of Energy will be disastrous for fuel users and consumers across the board.
“A perfect storm of demand imbalances, refinery costs, natural gas price hikes and rand weakness would see the petrol price close in on R20 a litre in the run up to Christmas.
“Diesel will be up by a remarkable R1.48 a litre, illuminating paraffin is set to jump by a staggering R1.45 a litre, and petrol will rise by R1.21 a litre for an inland price at the pumps of R19.54 for a litre of ULP95.
“The price of 95ULP in Polokwane is already testing the R20/l mark, with fuel there now costing R19.97/l.”
The AA said ULP95 in Gauteng is now 39.47% more expensive than 11 months ago, while the coastal price is a touch over 40% more expensive.
Diesel is 30% more expensive than at the beginning of the year.
“The cost of illuminating paraffin has also seen substantial increases, with the cost of this fuel 35% more expensive than it was in January. For many consumers, especially the poorest of the poor, this increase will come as a blow to their already strained budgets,” said the AA.
Cape Times