Unaudited fuel data released by the Central Energy Fund (CEF) points to possible increases in all grades of fuel prices in February, except for illuminating paraffin, bringing the steady price decline over recent months to a halt.
Commenting on the data, the Automobile Association (AA) says consumers can expect a slight increase of around 11 cents a litre for ULP95, 14c/l for ULP93, and 9c/l for diesel.
Illuminating paraffin is forecast to decrease slightly by around 3c/l.
“The weaker Rand to US Dollar exchange rate is contributing most to the expected increases in fuel prices, even if it is by a small margin.
“However, the more stable international oil prices are having the reverse impact, resulting in the lower illuminating paraffin prices,” the AA said in a statement.
However, it is important to note that the latest price forecast is based on mid-month data, and the outlook is likely to change before the Department of Resources and Energy makes its official announcement of the February fuel price adjustments at month’s end.
The official adjustment of the fuel prices will come into effect on February 7, the first Wednesday of the month.
