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BL Premium reports that after three months of declining fuel prices brought relief to motorists, February is expected to bring major hikes across the board.
According to latest data from the Central Energy Fund, a weaker rand and higher international petroleum prices will push up diesel wholesale prices by up to 73 c/l and retail petrol prices by up to 75c/l when the Department of Mineral Resources and Energy makes the official monthly adjustments on 7 February. The latest projected changes are in stark contrast to mid-month data, which had indicated a possible increase of 9c/l-14c/l. Following a peak in October, fuel prices have declined for the last three months due to lower international product prices and the rand strengthening against the dollar.
- Read the full original of the report in the above regard by BusinessLive (subscriber access only)
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