Unaudited mid-month fuel price data released by the Central Energy Fund (CEF) reveals a standoff between rising international petroleum prices and a stronger rand / US dollar exchange rate …

This is according to the Automobile Association (AA), which described the current fuel price outlook as a mixed bag.

“In the first half of February, international petroleum prices increased by the equivalent of ten to twelve cents a litre, while the rand firmed by about seven cents against the US dollar,” the AA said.

“As a result, the current data suggests a very modest fuel price increase of between three and four cents a litre for vehicle fuels, and a drop of around three cents a litre for illuminating paraffin.”

The Association said that any sudden spike in oil prices or move in the rand could change the situation suddenly.

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“Under the circumstances, it would be speculative to pronounce on what the fuel price picture is likely to be at month end,” the AA concluded.