The Automobile Association (AA) said unaudited data from the Central Energy Fund points to a petrol price increase of around R1.20 cents a litre and an increase in the wholesale price of diesel of as much as R2.

Picture: bizoon/123rf.com

CAPE TOWN - Fuel prices are set to rise significantly yet again based on current data.

The Automobile Association (AA) said unaudited data from the Central Energy Fund pointed to a petrol price increase of around R1.20 cents a litre and an increase in the wholesale price of diesel of as much as R2.

The AA said, at this stage, illuminating paraffin was showing an under-recovery of R1.84 cents a litre.

The main driver behind the potential increases are higher international oil prices that have climbed substantially since August, mainly on the back of reduced output by major oil-producing nations.

The weaker rand-dollar exchange rate is also contributing, but its impact is minimal at the moment.