Brace for February fuel price hike, Automobile Association warns

Motorists are urged to “add a little extra” to their fuel budgets for February with another fuel price hike anticipated.

This is according to the AA following unaudited fuel data from the Central Energy Fund (CEF) pointing in that direction.

The AA said possible increases were anticipated in all grades of fuel prices in February, except for illuminating paraffin.

Consumers could expect a “slight” increase of around 11c/litre for ULP95, 14c/litre for ULP93, and 9c/litre for diesel, with only illuminating paraffin showing a slight decrease of around 3c/litre.

“The weaker rand to US dollar exchange rate is contributing most to the expected increases in fuel even if it is by a small margin. However, the more stable international oil prices are having the reverse impact, resulting in the lower illuminating paraffin prices,” the association said.

“We also again remind motorists that a vehicle which is in good condition will use the optimal amount of fuel and will, in the long run, be more economical than a vehicle that has not been serviced or maintained. Another critical component to check is tyres; not only are tyres that are in poor condition a major safety risk, but they may also contribute to lower fuel economy if they are not properly aligned, or under- or over-inflated. This applies to all vehicles, including trailers and caravans which are towed.”

The AA noted that this was mid-month data, and the outlook was likely to change before the official announcement of the February fuel price adjustments by the Department of Mineral Resources and Energy closer to month-end.

The official adjustment of the fuel prices comes into effect on February 7, the first Wednesday of February.

Cape Times