Januworry greets us with possible fuel hikes

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Alert level 3 coupled with loadshedding, and now steep fuel hikes. According to a Fin24 report, the Automobile Association have issued a warning of a substantial price hike in fuel in January.

The increase is assumed to include petrol, diesel and paraffin costs. The report indicated a likely increase of 43 cents for petrol, and diesel and illuminating paraffin by 55 cents.

This prediction comes off the unaudited month-end fuel price data released by the Central Energy Fund.

In a statement by the AA, it said: “The Rand has continued to advance against the US Dollar, which is a pleasing outcome considering the severe beating the currency took earlier in the year.

But even the currency’s ongoing strengths has not been enough to contain oil’s march back towards its pre-Covid-19 price levels.”

Speaking to CapeTalk, Layton Beard, Spokesperson for the Automobile Association said: “These increases appear to be real and I think it’s not great news for consumers going into 2021.”