Not again, #PetrolPrice to increase again in August
SANDTON – The Automobile Association of South Africa has warned of another possible fuel increase for August.
With the recent record fuel prices, consumers will need to tighten their belts even more!
The Automobile Association (AA) has released a statement that fuel prices are set to rise again in August due to the weaker Rand, which is based on an unaudited mid-month fuel price data released by the Central Energy Fund.
International oil prices see-sawed during the first half of July, but remained within a fairly narrow band and did not contribute substantially to the price rises anticipated for next month.
The local currency started this month with a deficit, thanks to several days of losses against the US dollar at the end of June. However, the Rand clawed back some of these losses during a period of unusually flat trading in the first half of June.
Fuel price notification: The fuel price is set to rise at the end of July. How will this impact your daily life? https://t.co/t5ksRN0oVp pic.twitter.com/6eYRX4Y3sS
— AA South Africa (@AASouthAfrica) July 16, 2018
“Current data suggest a price rise of 19 cents a litre for petrol, 13 cents for diesel and 22 cents for illuminating paraffin,” the Association said. “If the prevailing Rand and fuel price trends persist for the rest of July, the fuel price increase may be lower than expected, but we cannot rule out the possibility of further volatility.”
The statement said the recent spike in fuel prices is cause for concern as it is impacting on the lives of all South Africans.
The association said the increases have brought the issue of fuel costs firmly into the public domain and they believe it is a good opportunity for the government to revisit the issue of fuel levies.
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