Expect another petrol price hike in August

Petrol prices are likely to increase yet again at the beginning of August 2018, according to a statement from the AA.

The AA published its statement in response to the unaudited mid-month fuel price data released by the Central Energy Fund.

This upcoming price hike will reportedly not be due to international oil price changes, but rather the weakness of the rand.

“International oil prices see-sawed during the first half of July, but remained within a fairly narrow band and did not contribute substantially to the price rises we are anticipating for next month,” said the AA.

“The big news is again on the rand front. The local currency started this month with a deficit, thanks to several days of losses against the US dollar at the end of June.”

The AA said it expects:

  • A petrol price increase of 19c per litre.
  • A diesel price increase of 13c per litre.

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Expect another petrol price hike in August