Petrol price increase on the cards for December

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Are you planning a holiday getaway this December? After all, the festive season is within sight, the ideal time to break away from your routine and take a well-deserved break.

However, those planning a fun-filled journey to their favourite holiday destination; can expect to fork out extra cash on petrol. That’s right, an increase in fuel prices is on the card for this December.

Following an unaudited mid-month fuel price data by the Central Energy Fund, the Automobile Association (AA) predicts an increase of 11 cents a litre for 95 octane petrol. An increase of seven cents per litre for 93 octane petrol is also expected.

Diesel is expected to decrease by 18 centres per litre, while illumination paraffin is expected to drop by 21 cents.

While the increase in petrol price is sure to dampen a number of people’s moods, especially those planning to travel during the festive season, the AA notes there is still some good news. What can this good news be?

According to the Association, the predicted drop in diesel prices means input costs for sectors such as manufacturing and agriculture.

The economy is also taking a breather, with Moody’s deciding not to downgrade South Africa’s rating down to junk status, rather giving the country the benefits of the doubt with a change of outlook.

The AA claims the average Rand/US dollar exchange rate has been flat, contributing a small decrease of approximately 3.5 cents to fuel prices, as it maintains a level of about R14.90 to the dollar.

With an increase in the pipeline for December, it seems motorists will be looking for ways to gear down on travelling costs.

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