Cape Town – South African motorists can expect another fuel price increase in August despite general inflation easing.
According to data from the Central Energy Fund, petrol and diesel prices are set to rise.
Petrol prices may increase by around 36 cents per litre for 95 Unleaded, while diesel prices could rise by approximately 72 cents per litre for both grades, potentially pushing the wholesale price above R20 again.
These predictions are based on unaudited data, and other factors like the Slate Levy could influence the final prices.
The official fuel prices for August will be announced by the Department of Energy and Mineral Resources early next week, taking effect on August 2.
If the petrol price goes up by about 36 cents, motorists will pay around R22.10 per litre for 95 Unleaded petrol at the coast and R22.82 inland, while the cheaper 93 ULP will likely be around R22.42.
Despite the South African rand gaining ground, the increase in international oil prices, with Brent Crude currently trading at $84.24, has not been fully offset.
According to SABC, the Automobile Association’s Spokesperson, Layton Beard says, ” The data is showing that the main driver behind the expected increases is international oil prices, which escalated steadily throughout the month.”
“Easing some of the pressure on fuel prices is the rand, which improved against the US dollar throughout the month. The strengthening of the local currency is ensuring the expected fuel increases are not higher but this is not doing enough to avoid the hikes,” Beard adds.
Follow African Insider on Facebook,Twitter and Instagram
Picture: Pixabay
For more Africannews, visit Africaninsider.com
Compiled by Betha Madhomu
