'Massive' fuel hikes on Wednesday
International crude oil prices have continued to advance, setting the stage for extraordinary fuel price hikes on Wednesday.
This is according to the Automobile Association (AA) - which was commenting on unaudited month-end fuel price data - released by the Central Energy Fund.
"At this stage, the AA is forecasting that petrol will be increasing by R1.73 cents, diesel by R1.74 cents and illuminating paraffin by a massive R2.14, when fuel prices are adjusted next Wednesday," says spokesperson, Layton Beard.
READ: Zimbabwe increases fuel price by 150 percent
He says the rebound in international oil prices has been as remarkable as their fall earlier in the year.
Beard says while the Rand has made some gains in June - it will need to be at its pre-COVID-19 levels to have some impact.
He says the hikes will be a huge blow to South Africans who rely on paraffin for cooking, lighting and heating during winter.
