A petrol, diesel and paraffin price increase is on the cards for the month of August 2020.

With the oil price high during the month of July 2020, it's certain we'll see increases in the fuel price, despite a surprisingly good performance from the Rand. This information comes from theAutomobile Association, who comments ahead of the month-end fuel price data released by the Central Energy Fund.

As far as changes go, petrol is set to increase by between 9 and 16 cents a litre, diesel will increase by up to 48 cents a litre and paraffin by 43 cents a litre.

"Oil traded in a fairly tight range throughout July, but it was a substantial climb at the beginning of the month, plus some recent volatility, that combined to push prices higher," the AA says. "The Rand gained eight cents against the US dollar during July and the average exchange rate has firmed to below R16.90.With so much negative news surrounding the economy, the Rand's firmer trend is welcome, but we would like to see the government support this trend in the area of economic policy certainty."

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