It's horrifying! SA braces for monstrous fuel price hikes. Oil hits 4-year high

It's monstrous!

On Wednesday, 3 October fuel prices will go up by R1.00 per litre, according to the Automobile Association of South Africa (AA).

The rand is weak, and oil prices hit a four-year high of $82.01 per barrel on Tuesday.

The Money Show’s Bruce Whitfield interviewed the AA’s Layton Beard.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

The gains we’ve made with the rand has been eradicated to an extent by international oil prices.

Layton Beard, Automobile Association of South Africa

We’ll probably be around the R1.00 mark… I think it [diesel] will be around R1.50… It is a monster increase…

Layton Beard, Automobile Association of South Africa

The outlook is bleak… If there’s an intervention it will be minimal…

Layton Beard, Automobile Association of South Africa

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