Unaudited data from the Central Energy Fund (CEF) points to impending fuel price hikes for all fuel grades in August, dealing another blow to already cash strapped South Africans, as reported by the Automobile Association (AA).
According to the data, petrol ULP95 is set to increase by approximately 35 cents per litre, while petrol 93ULP will climb around 30 cents per litre. However, it is the projected increases in diesel prices that are causing the most concern, emphasised the AA.
“The data is showing diesel will increase by around 72 cents per litre, which will effectively result in consumers paying more for goods and services down the line. Illuminating paraffin is also expected to rise by around 72 cents per litre. These significant upward adjustments will impact all South Africans,” says the AA.
The data indicates that the main driving force behind the expected increases is the surge in international oil prices, which steadily rose throughout the month.
The Rand’s improvement against the US Dollar provided some relief by easing some of the pressure on fuel prices. However, despite the strengthening of the local currency against the Greenback throughout the month, it has not been enough to prevent the upcoming fuel price hikes.
What are your thoughts on this? How much did your first tank cost to fill back in the day? Let us know in the comment section below.
