National
Rand's recovery may soften fuel price blow─── 10:18 Thu, 27 Apr 2017
Johannesburg – A strengthening Rand and softer international oil prices may soften the blow of an anticipated fuel price hike next Wednesday.
IOL reports that earlier in April the Automobile Association was predicting a 55 cents a litre hike in the price of petrol, 39 cents a litre more for diesel and a rise of 41 cents a litre in the price of illuminating paraffin.
But, to the surprise of most industry analysts, the rand has recovered some of the losses caused by the recent cabinet reshuffle – from around R13.40 to the dollar, back to the R13.10 level – while international oil prices have dropped over the past two weeks from $50 a barrel to below $50 a barrel.
The AA is predicting (based on unaudited fuel price data released this morning by the Central Energy Fund) that the price of petrol will go up next Wednesday by 49 cents a litre, diesel will become 33 cents a litre more expensive, along with a 35 cents a litre rise in the price of illuminating paraffin.
IOL
