According to the Automobile Association (AA),"Oil traded within a very tight band for most of January, but we have seen a steady uptick since February began. This trend has accelerated in the last week in particular." Meanwhile, the Rand has been on a weakening trend against the US dollar since the beginning of the month.
"The Rand has slipped from R13.20 against the dollar on 1 February to R14.12 on 14 February. This is not good news for fuel users at a time when oil is also rising," the AA says. As for the increases, the AA is predictinga price increase of 43 cents a litre is in the offing for petrol, 62 cents for diesel, and 47 cents for illuminating paraffin."If the trendlines for oil and the Rand don't flatten out, there could be worse to come before month end," the AA says.
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