info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
Photo from Internet
The price of petrol, diesel and illuminating paraffin in South Africa will see in another increase in august this year.
The Automobile Association (AA) said that current data from the Central Energy Fund suggests a price rise of 19 cents a litre for petrol, 13 cents for diesel, and 22 cents for illuminating paraffin.
It was commenting on unaudited mid-month fuel price data released by the fund.This would increase the petrol price to R16.21 a litre inland, and R15.72 on the coast.
If the prevailing rand and fuel price trends persist for the rest of July, the AA says that the fuel price increase may be lower, but it cannot rule out the possibility of further volatility.
“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,” the AA explained.
“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. However, the rand clawed back some of these losses during a period of unusually flat trading in the first half of June.”
The rand was trading at R13.20/$ on Monday morning.
The AA said that fuel price spike was impacting on the lives of all South Africans, especially the poorest of the poor who rely on paraffin for heating, lighting and cooking.
