Petrol price soars towards R16 per litre
Fuel prices will jump to record highs in June‚ the Automobile Association (AA) says.
Petrol is expected to rise by up to 85c/l‚ diesel by 87c and illuminating paraffin by 82c‚ the consumer organisation predicted on Thursday.
Commenting on unaudited month-end fuel data released by the Central Energy Fund (CEF)‚ the AA commented: "The rand traded in a fairly narrow band against the US dollar throughout May. However‚ international oil prices have come under strong pressure‚ accounting for two-thirds of the price rise, which will come into effect on Wednesday June 6."
The association said the price hike also included a large deficit carried over from April.
It explained: "The Department of Energy’s monthly close-out happened early due to the public holidays in April‚ after which the rand lost almost 60c against the US dollar in a matter of a day. This meant a substantial fuel price rise was a near certainty from the start of May."