There could be another fuel price increment if the fuel price data released by the Central Energy Fund (CEF) is anything to go by.
SA fuel prices are set to increase again, according to the Automobile Association, which says unaudited month-end fuel price data released by the Central Energy Fund (CEF) confirms the mid-month prediction.
The AA says: “The increases we expect at the end of July have mainly been driven by the weaker Rand/US dollar exchange rate.
“The Rand accounted for about two-thirds of the hike, with a slight uptick in international fuel prices contributing the remainder.”
Petrol is expected to increase by around 20 cents a litre and diesel is predicted to go up by nearly 31 cents, with illuminating paraffin showing a 27 cent hike.
The AA concludes: “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.”