[ALERT] Petrol price to rise 71 cents per litre

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The association said it expects illuminating paraffin to rise by about 76c/litre, diesel by 64c/litre and petrol by 72c/litre.

ACCORDING to the Automobile Association (AA), we are in for a bumpy ride this festive season as the fuel price outlook for December predicts an increase, with petrol prices set to go up by nearly R1/litre.

The price hike came as the result of rising oil prices, which have stayed above $60 (£44.74) a barrel for the entirety of November.

This means that the cost of filling a 55-litre family auto with petrol is now £66.43, making it £3.55 dearer than in July - the month unleaded reached its cheapest point of the year at 114.33p per litre.

For diesel drivers, filling up the family auto will set them back £67.75 - £1.22 more than October and £4.50 more than July when diesel was at its lowest level of 2017.

Fuel at supermarkets also rose, the November data showed.

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The new prices are expected to take effect from Wednesday. Conversely, Scotland saw the smallest increase, with the average price rising by 1.9p. Northern Ireland once again had the cheapest petrol, finishing the month on 119.74p.

Just last month, the RAC said increasing petrol wholesale price would "inevitably" be passed on to consumers. The pound rose 2% from $1.32 at the start of November to $1.35 by the close.

However, the organisation says that currency values have kept prices from inflating too dramatically.

In late November, the Organisation of the Petroleum Exporting Countries (OPEC) made a decision to extend its cut in production from its scheduled conclusion at the end of March to the close of 2018.

Make added that: "The main reason for this increase is the weakening of the rand against the dollar for the period under review and the higher crude oil prices which led to higher prices of petrol product in the market".

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