Petrol is expected to rise 49c a litre in May‚ with diesel up 33c and illuminating paraffin 35c. This is according to the Automobile Association (AA)‚ which was commenting on unaudited fuel price data released this morning by the Central Energy Fund (CEF). "International oil prices have retreated in virtual lockstep with a strengthening rand‚ complicating attempts to forecast a month-end fuel price‚" the AA said. "After a sharp rise from the end of March‚ international petroleum prices have given up almost all their gains in the past two weeks. Over the same period‚ the rand has unexpectedly firmed to near its pre-cabinet reshuffle levels." Earlier this month the AA predicted petrol would increase 55c a litre‚ diesel by about 39c and illuminating paraffin 41c. These forecasts were based on current data at the time such as the rand-dollar exchange rate‚ which moved from about R13.40 mid-month to its current value of about R13.10. International oil prices have also firmed to the curre...
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