ANOTHER PETROL PRICE HIKE IS ON ITS WAY FOR SOUTH AFRICADate: 2018-06-18
South African motorists need to brace themselves as there is yet another fuel price set for July, says Automobile Association, commenting on the unaudited mid-month fuel data released by the Central Energy Fund (CEF).
The AA said that: "Since the start of June, the Rand has steadily weakened against the US dollar, with the average cost per dollar having climbed from around the R12.50 mark to nearly R13.
"Fortunately international oil prices retreated over the same period, and have had a very small impact on the figures."
According to Wheels24, they continued to say, "Almost all of the increase is due to Rand weakness and the picture would have looked very much worse if international oil prices had not come down over the past two weeks.
"With the volatility of oil markets over the last six weeks, an increase in the oil price cannot be ruled out in the short to medium term, and we once again advise all motorists to avoid unnecessary journeys, make use of carpooling, and practice economical driving techniques."
From June 6 motorists have been forking out R15.20 at the coast and R15.79 inland for petrol. During the same period in 2017, there was a sigh of relief with a 23 cents drop per litre of petrol and 25 cents for diesel, as the price for petrol hovered near R13 per litre.
With the next fuel hike, motorists will be paying around R15.52 at the coast and R16.09 inland, which is a new record high for South Africans.