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International oil prices have stabilized in recent days.
Fuel prices are expected to rise significantly in January, the Automobile Association (AA) warned on Wednesday.
He was expecting strong increases across the board, with gasoline likely rising as much as 43 cents a liter, and diesel and light paraffin at 55 cents.
The AA made this prediction based on unaudited month-end fuel price data released by the Central Energy Fund.
“The rand has continued to advance against the US dollar, which is a pleasant result considering the severe beating the currency took at the beginning of the year. But even the current strength of the currency has not been enough to contain the march of oil. toward its pre-Covid level. 19 price levels, “AA said in a statement.
International oil prices have stabilized over the past few days, but in the AA’s view, it is too early to say whether this is a new plateau or an expected setback as trading activity slowed over the Christmas weekend.
“The trend through Dec. 17 was markedly up, and if that picks up more momentum in the new year, it will not bode well for fuel prices in 2021,” the association said.
“While South African fuel prices are well below their all-time highs, the country’s economy is in a fragile state and any impact on international oil prices or the rand / US dollar exchange rate could affect severely to fuel users. “
The current price of 93 unleaded gasoline on the coast is R13.75 and R14.26 inland. The current price of 95 unleaded gasoline is R13.76 on the coast and R14.46 inland.
The current price of 500 PPM diesel (coastal) is R11.85 and R12.45 inland. Diesel (50 PPM) currently costs R11.89 on the coast and R12.40 inland.
