Petrol price to possibly increase
According to the Automobile Association the price of petrol could rise by 26 cents in August.
“There has been a slow, but steady uptick in the Rand / US dollar exchange rate since the start of July.
“Over the same period, international petroleum prices have come off their mid-June highs, but not enough to offset the under-recovery in the petrol price,” says the AA.
Earlier this month, the petrol price increased by 29 cents.
The AA points out that diesel is showing a more favourable outlook, with current data predicting a slight price increase of around 3.5 cents per litre.
Illuminating paraffin is also fairly stable, with an increase of about 4.5 cents per litre on the horizon.
The AA’s view is that speedy resolution of current labour disputes will be important in containing further increases in our exchange rate which could negatively affect the fuel price. – @CarmenBoksburg
