South Africans can expect record fuel price increases in April, delivering yet another blow to already embattled consumers, according to the Automobile Association (AA).
Commenting on mid-month fuel data released by the Central Energy Fund , the AA noted that the current data is projecting fuel prices to touch on R24.00/l for petrol and R23.60 for diesel.
“If realised at month-end, these will be the biggest increases to fuel prices in South Africa’s history and will, undoubtedly, have major ramifications for all consumers and the economy in general. The main driver behind the increases is the movement in international oil prices which have soared to record levels in recent weeks because of the conflict in Ukraine and concerns over Russian oil supplies. Russia is the third top producer of crude oil and supply worries are seen in increased oil prices, the association pointed out.
Effectively, though, the rand’s value against the US dollar is having a nominal impact on the price of fuel locally.
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