Unexpectedly strong international fuel prices have raised the spectre of an unwelcome fuel price hike for petrol users at the end of April.
"Diesel's smaller increase is likely due to variations in international refining capacity, as well as the approaching end of the northern hemisphere winter when demand for diesel for use in peaking power plants and as a heating fuel diminishes."
The association says that the rand has appreciated quite strongly against the US dollar since the end of March, with the daily exchange rate used for fuel price calculations improving from over R14.60/$ on March 31 to under R14/$ currently. "The ground gained by the local currency has cushioned some of the blow, with diesel currently showing a slight decrease. But petrol users are in for a shock," says the association.
Price stability in illuminating paraffin is welcome as South Africa heads into winter, during which many households will be using paraffin as a heating fuel. But the rise in petrol is cause for concern when our economy is already in difficult waters," the AA concludes.
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