The Automobile Association says that unaudited month-end fuel price data released by the Central Energy Fund confirms South Africa’s fuel prices are set to increase.
“The increases we expect at the end of July have mainly been driven by the weaker rand/US dollar exchange rate,” the AA said in a statement.
“The rand accounted for about two-thirds of the hike, with a slight uptick in international fuel prices contributing the remainder,” it added.
The AA said it expected the price of petrol to increase by around 20 cents a litre. Diesel, meanwhile, was set to go up by nearly 31 cents, with illuminating paraffin showing a 27 cent hike.
“While the rand continues its volatile trend, international fuel prices have surged strongly in the past ten days. If this upwards movement continues into August, fuel users can expect further bad news,” the AA warned.
