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AA warns of possible fuel price hike
Owners of petrol-fuelled vehicles should prepare for more pain at the end of the month.
THE AUTOMOBILE Association of South Africa (AA) has warned that the price of petrol could rise by as much as 26 cents per litre at the end of July.
This was revealed on the SA Breaking News website yesterday, after the Central Energy Fund released the unaudited fuel price on Monday this week.
“There has been a slow, but steady uptick in the Rand / US dollar exchange rate since the start of July,” said the AA. “Over the same period, international petroleum prices have come off their mid-June highs, but not enough to offset the under-recovery in the petrol price.”
According to the AA the picture might improve, but as things currently stand, owners of petrol-fuelled vehicles should prepare for more pain at the end of the month.
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