Cape Town – The Central Energy Fund (CEF) has released its most recent fuel price forecast report, and it points to another petrol price increase for the month of September, according to reports.
However, paraffin and diesel prices are set to decrease.
According to The Citizen, the petrol price will increase by 2-7 cents, while diesel will decrease by 12 cents. Paraffin will decrease by 7 cents.
ALSO READ: Dollar dominance back on agenda in DRC
The decrease in paraffin and diesel prices is due to the weakening rand and changes in international product prices.
Businesstech reported on Monday that the rand took a hit as a result of political unrest in South Africa and the Covid-19 level 4 lockdown.
“While the rand started August in a much stronger position, trading around R14.40, it has continued to weaken as key international markets suffer their own Covid-19 woes – driven by the delta variant – as well as political changes locally,” the report said.
Follow African Insider on Facebook, Twitter, and Instagram
Picture: Getty Images
For more African news visit, www.Africannsider.com
Compiled by Sinothando Siyolo
