Home Business and Technology Massive petrol price increase coming next week

Massive petrol price increase coming next week

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Fuel price

Massive fuel hikes are set to hit consumers next week as the oil price recovers.

The Automobile Association is forecasting that petrol will be increasing by around R1.73 a litre, diesel by R1.74 and illuminating paraffin by a massive R2.14 when fuel prices are adjusted next week.

fuel

The massive hikes will be a huge blow to citizens who use paraffin for cooking, lighting and especially heating during winter.

International crude oil prices have continued to increase and unfortunately, the stronger rand has not strengthened enough to buffer consumers from the hike.

The association highlights that if the local unit had remained at its pre-COVID-19 levels there would have been another price drop of around 75 cents a litre next week.

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Source: eNCA