Monster petrol price hike for August
These increases mean the price of petrol will have climbed nearly 23% in just seven months since January
MOTORISTS will be hit with massive fuel price increases next week, with petrol set for an 83 cents per litre rise.
This is according to the Automobile Association (AA) which has predicted 48 cents per litre increases for both diesel and illuminating paraffin.
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The AA is commenting on unaudited month-end fuel price data released by the Central Energy Fund (CEF). The fuel price is adjusted on the first Wednesday of every month.
‘The average rand/US dollar exchange rate consistently trended upward during July, and the weaker local currency will make it more expensive for South Africa to import fuel,’ said AA spokesperson Layton Beard.
Beard said these new increases will mean the price of petrol will have climbed nearly 23% in just seven months since January, while the price of diesel will have climbed around 20% and the price of illuminating paraffin will have increased by around 30% over the same period.
‘Unleaded petrol 95 cost R14.86 a litre in January, compared to the expected new price of around R18.22 in August.
‘In January, a litre of diesel cost R13 compared to the expected August price of R15.56 a litre, while a litre of illuminating paraffin is expected to cost around R9.61 when the price is adjusted for August, compared to its price of R7.39 in January.
‘These increases will add to the heavy financial burden for South Africans already battered by weak economic conditions,’ he said.
