Wed, 29 Sep 2021

Consumers can expect a hefty increase on all fuel types in August due to an increase in import prices, the Automobile Association said on Friday.

The AA - which does not itself regulate fuel prices - said it expected a jump of around 83 cents a litre higher for petrol, 48 cents a litre for diesel, and 48 cents for illuminating paraffin.

Its comments come on the back of the unaudited month-end fuel price data released by the Central Energy Fund this week.

"The average Rand/US dollar exchange rate consistently trended upward during July and the weaker local currency will make it more expensive for South Africa to import fuel," the AA said, adding that over the same period, international oil prices averaged higher.

The expected increases will mean the petrol price would have climbed nearly 23% since January. The diesel price would have climbed around 20% and illuminating paraffin would have jumped by nearly a third at around 30%.

Source: News24

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