In November, AA said the currency and oil price fluctuations are attributed to world consumption rebounding faster than production, and what it called the ‘background noise’ around Joe Biden winning the United States election.

It also says that optimism in the wake of the announcement of a COVID-19 vaccine was being countered by jitters over renewed lockdowns in Europe and the rapid spread of COVID-19 in the US.

The association says the big drops in fuel prices over the past six months seemed to have worked themselves out of the system, but warned that nothing should be taken for granted.

“With the South African economy in its current fragile state, fuel users will be among the first to feel any economic shocks,” the AA warns.