Based on the monthly unaudited fuel price data from the Central Energy Fund, the Automobile Association of SA has said the prices of all grades of fuel will be going up in July 2021.
“International petroleum prices have climbed throughout June. Even some marginal gains on the Rand have not been enough to counter the rise. On average, the Rand was positive against the US dollar during June, but the daily exchange rate has sagged alarmingly since mid-month, weakening from around R13.75 to the dollar to nearly R14.30,” the AA says.
As it stands, we’re looking at increases of 23 cents a litre for petrol, 38 cents a litre for diesel, while illuminating paraffin will be going up by 32 cents.
“This increase is going to be very difficult for those who use paraffin for cooking, lighting, and especially heating as South Africa heads into the heart of winter,” said the AA. The AA also expressed concern about the exchange rate and oil price for the rest of the year.
“If the Rand continues to slide with oil on an upward trajectory, this could bring further bad news for South Africa’s economy,” the AA concludes.
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