Unaudited fuel data from the Central Energy
Fund (CEF) points to possible increases in all grades of fuel prices in
February, except for illuminating paraffin. Commenting on the data, the
Automobile Association (AA) says consumers can expect a slight increase of
around 11c/l for ULP95, 14c/l for ULP93, and 9c/l for diesel. Illuminating
paraffin is showing a slight decrease of around 3c/l.
“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,”
notes the Association.
It is important to note, that
this is mid-month data, and the outlook is likely to change before the official
announcement of the February fuel price adjustments by the Department of
Resources and Energy closer to month-end.
Despite this the AA recommends
that motorists add a little extra to their fuel budgets for February.
The official adjustment of
the fuel prices comes into effect on 7 February, the first Wednesday of
February.
ISSUED BY THE AUTOMOBILE ASSOCIATION OF SOUTH AFRICA
