Fuel prices are set to rise sharply in December 2017 based on unaudited month-end fuel price data released by the Central Energy Fund (CEF) the Automobile Association (AA) reports.

Motorists are in for yet another fuel increase which is due to take effect early in December 2017. A combination of the weakening Rand and a significant rise in international oil prices are the main causes for the expected fuel price.

The AA said, "Oil has continued the strong run we have seen throughout November and the trend remains upwards. The Rand has followed a similar trend, weakening against the US dollar on average, although it has been surprisingly resilient in the days following South Africa's recent credit ratings downgrade."

According to the data, illuminating paraffin is expected to increase the most, by as much as 76 c/litre, while the cost of petrol could increase by approximately 72 c/litre, and diesel 64 c/litre.

"South Africa's economic situation remains weak, and our view is still that further fuel price hikes can be expected during the remainder of 2017 and into the first quarter of 2018," the AA says.

The potential for further downgrades by rating agencies before the end of December 2017 are still a strong possibility, which will have an impact on fuel prices going into 2018.

With the festive season around the corner, motorists are urged to budget effectively for the holiday season and practice fuel-efficient driving techniques to lower their fuel consumption and save money at the pumps.

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