Expect a huge increase in fuel price in February 2021

Reports from the Automobile Association (AA) suggest a very worrying increase in fuel price for February 2021. AA made predictions based on the unaudited mid-month fuel price data released by the Central Energy Fund that results in a huge increase in price for petrol, diesel and paraffin.

“The problem is international oil prices, which have been consistently climbing with each passing day. A general increase in positive sentiment as COVID-19 vaccines are rolled out has combined with upticks in global economic activity, pushing up demand for oil – and taking prices with it.” – AA

Fuel price increase for February 2021.

The AA has predicted that petrol will rise by 80 cents a litre while diesel will increase by 61 cents a litre. Illuminating paraffin will follow a similar trend with an increase of 63 cents per litre. This is not good news especially with an ongoing lockdown that already puts a limit on many South African businesses.

“With the Rand relatively strong by recent standards, the only hope for a reprieve relies on a pullback by oil. Unfortunately, the trend lines suggest that the situation may deteriorate further before month end.” – AA concludes.

For the reports on January 2021: click here.

Source: AA

Stuart Smith

A copy and content writer at Web2Web with a passion for sharing engaging content. He loves his old Toyota Corolla and talking about new cars, particularly about the technology that changes the way they are designed.