Petrol Price Increase Likely In August 2017

Petrol

Due to higher international fuel prices and an unstable foreign exchange rate, it's looking likely that motorists will see an increase in the price of petroleum at the end of July 2017.

According to the Automobile Association, "There was a slight decrease in the international petrol price, but diesel and paraffin are up. Meanwhile, the Rand's slip against the US dollar added around 17 cents a litre to fuel prices across the board." 

"As a result, our mid-month prediction is that the petrol price is set to increase by up to seven cents a litre based on the current data, with diesel up 22 cents, and illuminating paraffin 19 cents higher." added the AA. Generally, the international petroleum prices tend to go up around this time of year. "As we have previously noted, the fuel price relief of recent months is unlikely to be sustained, and motorists should be prepared to pay more at month-end," the AA concludes.

As soon as we have final clarification around this increase, we'll update the story.

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