Unaudited mid month fuel data from the Central Energy Fund (CEF)
is indicating that most fuel prices will experience an upward trend in August. However, the Automobile Association (AA)
cautions that this situation is likely to change within the next two weeks.
Based on the current data, the AA reports that ULP95 petrol is poised to see an increase of approximately seven cents per litre, while ULP93 petrol is showing a nominal decrease of just over 1 cent per litre.
For the second consecutive month, diesel is once again revealing substantial price hikes. The mid month outlook suggests an estimated increase of around 48 cents per litre. Additionally, illuminating paraffin prices are set to climb by approximately 47 cents per litre.
The AA highlights that the current data provides insight into the potential fuel price adjustments at the end of August.
“At this stage of the month, the numbers reflect the likely direction of fuel prices when they are adjusted at month end for August. Presently, the trajectory indicates that all fuel will become more expensive in August, with the actual increases probably exceeding the current data’s indications,” notes the AA.
The AA further explains that the current data aligns with the higher average international product prices, particularly oil prices, compared to the previous month. These international price trends are the primary contributors to the anticipated price increases. Meanwhile, the average Rand/US Dollar exchange rate remains relatively stable during the reporting period and offers minimal relief in terms of fuel prices.
“We naturally remain concerned about the direct impact of rising diesel prices on consumers, as this fuel represents a significant input cost in numerous sectors,” concludes the Association.
As the news of impending fuel price adjustments spreads, the public is encouraged to share their thoughts and opinions on this matter in the comment section below.