Petrol price hike expected for next Wednesday
Fuel prices to continue increasing next month – says AA.
Motorists are warned to prepare for a possible raise in the fuel price.
The Automobile Association (AA) said in a statement that the price of petrol is likely to increase by between 43 and 46 cents a litre in July, while diesel and illuminating paraffin are likely to increase by only 6 cents per litre.
The AA warned the weakening rand/dollar exchange rate could result in even higher increases:
“If this trend continues and is not offset by reductions in international petroleum prices, fuel prices will begin testing their previous record highs before the end of the year,” the AA said.
“The average rand/dollar exchange rate has weakened considerably since the end of May. The rand has lost about 40 cents against the dollar, and this has contributed almost half of the increase which is forecast for the petrol price.”
The AA said diesel prices have meanwhile moderated, but there was a steep spike in the petrol price in the second week of June.
“The petrol price has since come off this high, but not enough to prevent a considerable price increase at the pumps.”
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