We have mixed news for the petrol and diesel price for August 2019. Petrol is going up, while diesel is going down. Here are the forecasts, supplied to us by theAutomobile Association (AA).

According to theAutomobile Association (AA), we're in for a mixed bag for August 2019. The cost of petrol is going up while diesel is dropping.

"International oil prices have steadily trended upwards since the start of June, although there has been a slight pullback since a peak on July 11. Since then, diesel prices have edged higher while petrol remained flat, although the currency remains volatile going forward, particularly in light of recent ratings agency announcements and other factors," the AA notes.

The AA is predicting that petrol will increase by around 12 cents per litres, while diesel will be dropping by around 16 cents a litre. There are many factors at play here, with the AA claiming ongoing oil volatility,US inventory levels, political instability in the Middle East, a possible medium-term demand plateau, and ongoing OPEC output restrictions. Let's not forget the exchange rate instability either as the Rand/Dollar rate changes.

"The average Rand/dollar exchange rate crossed R14.20 last week despite spending much of July stronger against the US currency. This volatility can come into play before Wednesday’s adjustment and may even have a bearing on the September outlook, " the Association says.

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