JOHANNESBURG -Robust global petroleum rates and a slowly fading rand are indicating a substantial jump in the price of all petroleum types at the end of August.
This is according to the Automobile Association‚ remarking on unaudited mid-month petroleum price data released by the Central Energy Fund (CEF).
“The Rand has weakened an average of 20 cents against the US dollar since the start of August‚” notes Association .
“Meanwhile‚ international fuel product prices have upsurged towards the end of July. This means all petroleum types are likely to experience considerable price increases at month end.”
The AA’s mid-month fuel position forecast is that petrol is expected to climb by 63 cents a litre‚ diesel by 57 cents and illuminating paraffin by 58 cents.
The AA said the increase in illuminating paraffin in particular would have a strong negative effect on households which rely on it for cooking‚ lighting and heating.
“The Rand’s trend over the past fortnight has lost ground 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 said.
“Motorists should definitely expect to pay more for fuel from the start of September.”
Expect fuel hefty increases
Automobile Association warns motorists