The Automobile Association (AA) has said motorists cannot anticipate fuel price increases to come to a standstill.
“We cannot turn a blind eye on indications that the country may experience another round of downgrades by offshore rating agencies, which could come to pass by December,” the AA said.
The rand was trading at R13,88 to the American dollar on Wednesday afternoon, 22 November – one of the lowest ratings of the rand this year, and there have been massive hikes in intercontinental prices in oil. The AA also touched on how local citizens should not expect a breather, because the economy is under strain.
The unsettledness of government’s revenue regulation will possibly depend on the rand – these components unify the weak rand and the high oil price. There is a strong chance of inflated fuel prices for the rest of this year, and perhaps at the beginning of 2018.
“Petrol may encounter an increase of 74 cents per litre, while diesel could rise by 63 cents – consumers run the risk of paying more as November draws to a close,” said the Association.
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