Another fuel price hike is on the horizon
"For the first time in a while, the Rand has shown reasonable strength against the US dollar during one of our reporting periods," the AA comments.
"However, this is not enough to counter rampant increases in the international prices of fuels, which have risen by up to six percent in the past two weeks."
The current data predicts a month-end price hike of up to 35 cents a litre for petrol, 33 cents for diesel, and 29 cents for illuminating paraffin.
"Without the benefit of Rand strength, the increase per litre would have been up to 50 cents in some cases," the Association comments.
"We are now seeing what we believe is the beginning of some Rand weakness, and the current picture may deteriorate by month-end," the AA concludes. – AASA