Hefty fuel price increase for motorist

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fuel price

Stronger international fuel prices and a gradually weakening Rand are signalling a hefty jump in the

The Automobile Association (AA) said it expects a “hefty jump in the price of all fuel types at the end of August.”

In a statement on Tuesday, the AA predicted a whopping increase of 63 cents per litre for petrol, 57 cents for diesel and 58 cents for illuminating paraffin.

Stronger international fuel prices and a gradually weakening rand are to blame.

“The rand has weakened an average of 20 cents against the US dollar since the start of August,” the AA said in a statement on Tuesday.

“Meanwhile, international fuel product prices have remained on the higher plateau they reached towards the end of July. This means all fuel types are likely to experience substantial price increases at month end.”

The AA said the increase in illuminating paraffin, in particular, will have a strong negative effect on households which rely on this fuel for cooking, lighting and heating.

“The rand’s trend over the past two weeks has been towards further weakness 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.

The price of petrol went up by 19 cents a litre for the month of August.

 

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