Economist: Fuel price increase unlikely permanent
An economist says next month's predicted massive fuel price increase while unpleasant, is not permanent.
The Automobile Association predicted that a fuel hike well over a rand was on the cards for all grades of fuel in March.
It says based on data from the Central Energy Fund, an increase of R1.25 a litre for 95 octane petrol, R1.24 a litre for 93 octane, R1.29/l for diesel and a significant increase of R1.22/l for illuminating paraffin.
Economist, Graeme Korner says the price hikes are unlikely to be sustained.
"We have already seen the oil price starting to retreat so I think the reality of it is that I personally don't see oil holing at $19,95 a barrel for very long", he said.
