Petrol price goes up by 52 cents a litre
The Automobile Association (AA) got its prediction of a petrol price increase of 52 cents a litre spot on. That hike was confirmed by Fin24 quoting a Department of Energy statement‚ which said diesel will go up by 76c/l – 2c lower than the AA prediction - and illuminating paraffin by 62c/l – 1c up on the AA’s calculation. "International petroleum prices continued their upward march during May and the weakening rand/US dollar exchange rate has exposed the consumer to the full force of oil's strength‚" the AA had said in a statement on Friday. The association was commenting on unaudited month-end data supplied by the Central Energy Fund.Concern was raised by the AA over the steady rise in oil prices in the current weak rand environment‚ notwithstanding international opinion that global oversupply could see prices pull back...
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