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Unaudited data points to August petrol price hike

17.07.2017

After last month's substantial decrease in the price of all grades of fuel, the Automobile Association (AA) has said it expects a minor increase for August as the Rand continued to lose ground against the US Dollar.

Commenting on unaudited data released by the Central Energy Fund on Monday (July 17th), the Association said it expects the price of petrol to go up by seven cents a litre, diesel by 22 cents and illuminated paraffin by 19 cents come August 2nd.

"There was a slight decrease in the international petrol price, but diesel and paraffin are up. Meanwhile, the Rand's slip against the US dollar added around 17 cents a litre to fuel prices across the board," the AA said in a statement.

"As we have previously noted, the fuel price relief of recent months is unlikely to be sustained, and motorists should be prepared to pay more at month-end".

A short while ago, the national currency was trading at R12.94 to the greenback with Brent Crude Oil at $49.01 a barrel.

Article written by Autodealer
17.07.2017
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