November will see motorists digging deeper into their pockets to afford a litre of petrol.<\/p>\n
The recent strengthening of the Rand against the US dollar has not been enough to prevent this\u00a0hefty fuel price hike.<\/p>
Petrol is set to rise by around 45 cents a litre, diesel by 64 cents and illuminating paraffin by 57 cents, on Wednesday.<\/p>\n
This is the news from the Automobile Association (AA), which was commenting on unaudited month-end fuel price data released by the Central Energy Fund (CEF).<\/p>
“The Rand incurred heavy losses at mid-month in the wake of the NPA’s decision to charge Finance Minister Pravin Gordhan,” the AA said.<\/p>\n
“The deficit has not been made up, even though the Rand has been slightly stronger in the last ten days.<\/p>\n
“In the time being, international petroleum prices, which had been steadily rising in the first two weeks of October, have flattened out somewhat, which is encouraging.<\/p>\n
“Despite the improved stability of both oil and Rand, consumers will still be in for strain at the pumps.<\/p>\n
“This is substantially in line with our mid-month expectations.<\/p>\n
“However, we once again urge organs of government to exercise the utmost caution in dealing with\u00a0economically-sensitive issues which can severely impact on working-class citizens,” the AA said.<\/p>\n
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