The Automobile Association (AA) has released a warning for all motorists about a fuel price rise of petrol and diesel in January 2021. Their predictions are based on the unaudited mid-month fuel price data released by the Central Energy Fund.
“It’s been a good month for the Rand so far, with the local currency picking up around 15 cents against the US dollar, but the basic fuel price has shot up since the start of December, raising the spectre of quite substantial fuel price rises if there isn’t a pullback before month-end.” – AA.
Fuel price rise for January 2021.
“Diesel and illuminating paraffin are the worst hit, with the current data showing an increase of 52 cents a litre for these fuel types. But petrol hasn’t escaped unscathed, with increases of up to 34 cents a litre on the cards.” – AA.
The AA goes on to say that the increases come despite a significant overcapacity of the global refining, an increase in the oil supply and falling demand.
This hits hard, but we hope that the reduction in demand and increase in supply will mean better for February 2021.
For details about the last fuel price prediction, click here.
Source: AA