Cape Town - The Automobile Association (AA) has cautioned motorists of a potential petrol price increase of around 25cents/litre in April.
The AA said unaudited fuel data from the Central Energy Fund (CEF) pointed to the possible increases.
Adding “good news”, the AA said the data showed a decrease to the wholesale price of diesel of around 20c/l, and a significant decrease to the price of illuminating paraffin of around 68c/l.
“The weaker rand to US dollar exchange rate is contributing to the increases in petrol and clawing back some of the decreases to diesel and illuminating paraffin, with lower international oil prices having the reverse impact.
“However, in the case of diesel and illuminating paraffin, the weaker rand is not resulting in increases,” the AA said.
The official adjustment of the fuel price would come into effect on April 5 – the first Wednesday of April.
“Fuel levies are traditionally increased in April, but the Minister of Finance heeded calls by the AA, and in his February Budget Speech, indicated that this will not happen this year.
“Although not a saving as such, any increases would have added additional pressure to fuel prices, and we again welcome his decision not to increase these rates for 2023,” it said.
Cape Times