South Africa
Steep petrol price hike expected in December─── 16:45 Tue, 15 Nov 2022
The Automobile Association (AA) says unaudited mid-month data from the Central Energy Fund points to a "mixed bag of increases and decreases" in fuel prices for December.
It claims that the data shows significant increases in petrol prices ranging from 97 cents to R1.09 per litre for the various grades.
The AA says a decrease of up to 34 cents a litre for diesel is expected next month, but the price of paraffin is expected to go up by 30 cents, which will hit the poorest of the poor the hardest.
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"According to the data, the average upward movement in international product prices is the main driver behind the increase in petrol prices, while the slight downward trend in international diesel product prices is having the reverse impact on this fuel."
The rand is performing stronger against the US dollar in daily trading, especially since the second week of November, which is having a positive impact on fuel prices.
The association cautions, though, that these are mid-month figures and are likely to change before the final adjustment for December is made later in the month.
