TheAutomobile Association (AA) has predicted substantial increases in the price of petrol and diesel for January 2021.

Based on theunaudited mid-month fuel price data released by the Central Energy Fund, the AA reckons South African motorists are in for some heavy increases as we go into January 2021.

"It's been a good month for the Rand so far, with the local currency picking up around 15 cents against the US dollar, but the basic fuel price has shot up since the start of December, raising the spectre of quite substantial fuel price rises if there isn't a pullback before month-end," the AA says."Diesel and illuminating paraffin are the worst hit, with the current data showing an increase of 52 cents a litre for these fuel types. But petrol hasn't escaped unscathed, with increases of up to 34 cents a litre on the cards," says the AA.

Ouch! These increasescome despite significant global refining overcapacity and a slight increase in the world-wide oil supply alongside falling demand. We're hoping this trend doesn't continue during the month of December and will post more info as soon as we have it.

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