Motorists are in for another hike in fuel prices in July 2018. Details below…
The upward trajectory of fuel prices in South Africa continues as the Department of Energy announced increases which will take effect on Wednesday, 4 July 2018.
During June 2018, the Rand weakened against the US dollar from R12.51 to R13.29 while the price of Brent Crude oil decreased over the same period from $77.00 to $74.00. The decrease in the oil price prevented further increases and cushioned consumers by as much as 20 c/l according to the Department of Energy. International prices of petroleum products also decreased over the period.
Nonetheless, the following fuel price adjustments will take effect on 4 July 2018:
Petrol 93 Octane: up by 26 c/l
Petrol 95 Octane: up by 23 c/l
Diesel 0.05% Sulphur: up by 26 c/l
Diesel 0.005% Sulphur: up by 24 c/l
The Automobile Association of South Africa (AA) warned, “We do foresee further fuel price hikes, driven by South Africa's weak economic position and potential fallout from trade tariff disagreements between the USA and other nations. Combined with lower wage hikes and the increasing cost of living, the expenses of commuting by private car might spiral beyond many motorists' reach. Commuters who would never previously have considered public transport or carpooling may soon have no option.”