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Data predicts 61 cents petrol price hike for September

30.08.2017

The Automobile Association (AA), in its second report, has predicted a considerable increase in the price of all grades of fuel next month, although marginally lower than before.

Commenting on unaudited data released by the Central Energy Fund on Tuesday, the association said it expects the price of petrol to go up by 61 cents a litre, diesel by 46 cents and illuminated paraffin by 50 cents, undercutting the 63, 57 and 58 cents upshots previously reported.

"International petroleum prices have remained on the plateau they reached at the beginning of August, and the average Rand / US dollar exchange rate has also shown little change," the AA said in a statement.

"The majority of the increase is attributable to strength in international petroleum prices, with just four cents of the hikes due to Rand weakness. If oil continues to climb, South Africans should expect further pain at the pumps in the upcoming months".

Towards the end of trade, the Rand was trading at R12.98 against the Dollar, with Brent Crude at $51.50 a barrel. 

Article written by Autodealer
30.08.2017
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