(Ecofin Agency) - The South African Automobile Association (AA) has said that the ongoing increase in the global oil prices with inadequate support from the exchange rate has resulted in a further increase in the prices of fuel.

According to the Association, an unaudited mid-month data released by the Central Energy Fund foresees an increase of about 27 cents per litre for petrol, 61c per litre for diesel and Illuminating paraffin is also under pressure with a 60 cents rise.

AA warned that the economic crisis which has weakened the exchange rate could further worsen the matter by the end of the month.

Since March the price of petrol went up by 152 cents while in May motorists had to pay 88c for 95 Unleaded Petrol (ULP) and Lead Replacement Petrol (LRP) and 86c for 93 ULP and LRP.

At the beginning of June, the pump price for all grades of petrol increased by 52 cents per litre.

The increase in fuel prices is as a result of the continuous increase in international petroleum prices as well as the weakening rand/US dollar exchange rate.

On Friday the rand was trading at R15.23 per dollar, while Brent Crude Oil was trading at $47.82 per barrel.

Paraffin users are set to witness a sharp increase in their energy costs, together with an increase in the costs of transportation, the AA warned, adding that motorists in the country should reexamine their driving arrangements and car sharing practices in order to economize, in case the current increase in fuel prices continues, Engineering news reports.

Anita Fatunji