⛽Oil prices and a weakening rand could lead to increases in fuel prices in August😩 fuelprice petrolprice CostOfLivingCrisis TheCitizenNews Read more⬇️
picture in July where petrol decreased and diesel increased, the Automobile Association has painted a similar picture for August, albeit with one grade-type expected to go down.said current data points to a seven cents a litre increase in the price of 95 unleaded, a more substantial 48 cents rise in the price of diesel and 47 cents for illuminating paraffin.ALSO READ:The figures, however, are only provisional and could change as the month continues.
Earlier this month, the price of 93 unleaded dropped by 24 cents and 95 unleaded by 17 cents, while diesel rose by between 12 and 18 cents. The illuminating paraffin price was also down by four cents.Citing higher international oil prices and a poor rand/US dollar exchange rate as the main reason for the projection, the AA remarked, “at this stage of the month the numbers are more reflective of the way the fuel prices are likely to go when they are adjusted at month-end for August.
“Currently the trajectory indicates that all fuel will be more expensive in August, with the quantum of the increases most probably being higher than the current data indicates.” “We remain concerned that the effect of more diesel prices will impact directly on consumers through higher prices given that this fuel is a major input cost in so many sectors.”, mid-afternoon figures on Monday saw the rand trading at R18.03 to the US dollar with Brent Crude Oil priced at $78.93 a barrel.
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