Motorists could be hit with “catastrophic” fuel price hikes next month as a result of increasing oil prices, warns the AA.with diesel and illuminating paraffin increasing by R1.42 /l when fuel prices are adjusted on November 3.a 30% increase since January — and the wholesale price of 50ppm diesel to R17/“The hikes in diesel and illuminating paraffin would be the largest in SA history, bearing in mind that this is only based on half a month’s data.
“Brent Crude has broken through the $85 per barrel mark and the basket of oil prices used to calculate SA's oil price are following Brent higher. We note the concern this is generating in the US, where President Joe Biden was reported to have called on the Opec+ cartel to increase oil output to stabilise prices. This has not generated a response from Opec+, and our view is that a response is not likely, since the current price pressures are beneficial to the cartel’s members,” the AA notes.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Massive month-end fuel price hike could be ‘catastrophic’, warns the AACurrent data is predicting fuel price hikes of 'catastrophic' proportions at the end of October for November. This is according to the Automobile Association (AA), which was commenting on recent exchange rate and commodities data. People who give up are the people who lose in life, my first experience happens to be a failure but i never gave up cause I knew it was going to work out for me trying continuously, fortunately I'm smiling ☺ today getting involved with lethica10 We are in for a dark festive Out useless government won't do a thing about it, drowning this country even more
Source: SowetanLIVE - 🏆 13. / 63 Read more »
Source: TheCitizen_News - 🏆 6. / 75 Read more »
Massive month-end fuel price hike could be ‘catastrophic’, warns the AACurrent data is predicting fuel price hikes of 'catastrophic' proportions at the end of October for November. This is according to the Automobile Association (AA), which was commenting on recent exchange rate and commodities data. People who give up are the people who lose in life, my first experience happens to be a failure but i never gave up cause I knew it was going to work out for me trying continuously, fortunately I'm smiling ☺ today getting involved with lethica10 We are in for a dark festive Out useless government won't do a thing about it, drowning this country even more
Source: SowetanLIVE - 🏆 13. / 63 Read more »
Oil prices rise to multiyear highsOil prices continue to be buoyed by recovering demand and high natural gas and coal prices which are encouraging users to switch to fuel oil and diesel for power generation Investing today will save you the stress of financial crisis tomorrow.. Live the kind of life you want today by investing and trading Bitcoin. Trade with a professional trader and start making good profits today. Lisahawthorrne for transparency and trust.
Source: BDliveSA - 🏆 12. / 63 Read more »
Stellenbosch remain unbeaten as Swallows' problems deepenHigh-flying Stellenbosch continued with their bright start to the season as they maintained their unbeaten record so far while Swallows struggle to take off with no wins in six matches.
Source: TimesLIVE - 🏆 28. / 59 Read more »
Source: TheCitizen_News - 🏆 6. / 75 Read more »