The strong international fuel prices, rise in oil prices and a gradually weakening Rand, have indicated that South African motorists will be expected to fork out an additional 63 cents a litre for petrol, 57 cents for diesel and 58 cents for illuminating paraffin.
“Meanwhile, international fuel product prices have remained on the higher plateau they reached towards the end of July. This means all fuel types are likely to experience substantial price increases at month end,” said the Automobile Association of South Africa (AA).
The AA said that the increase in illuminating paraffin will have a strong negative effect on households which rely on this fuel for cooking, lighting and heating.
“The rand’s trend over the past two weeks has been towards further weakness against the US dollar, and international fuel prices have traded in a narrow band, meaning we do not expect the picture to improve by month-end,” the AA said.
“The Rand’s trend over the past two weeks has been towards further weakness against the US dollar, and international fuel prices have traded in a fairly narrow band, meaning we do not expect the picture to improve by month-end,” the AA says.
“Fuel users should definitely expect to pay more for fuel from the start of September,” concluded the AA.
Source: AA