South Africa
AA warns of massive fuel price hikes in March─── 11:06 Sat, 19 Feb 2022
The Automobile Association (AA) has warned consumers of a massive fuel increase next month.
The association forecasts a hike of R1 per litre for all grades of fuel.
The hike in fuel prices follows an increase in international oil prices on Monday.
“The data is showing an increase of R1.25 a litre for 95 octane petrol, R1.24 a litre for 93 octane, R1.29 per litre for diesel and a significant increase of R1.22 per litre for illuminating paraffin.” said the AA in a statement.
An economist from the Efficient Group, Dawie Roodt, says they are in line with current economic data.
“These increases aren’t unexpected, and they are supported by the numbers, especially those related to international oil prices. Naturally, we are concerned about these expected increases which will undoubtedly put more pressure on already stretched consumers.”
