Possible fuel price hike on the cards for July
Global oil volatility and Middle East tensions are driving up mid-month fuel projections, with diesel facing the steepest increases.
Brace for a possible bump at the pumps in July.
Motorists could be paying more for fuel in July, as mid-month data from the Central Energy Fund reveals shifting trends driven by surging global oil prices and ongoing uncertainty in the Middle East.
Pretoria Rekord reports that while the resilient Rand has mitigated some of the impact, early indicators suggest that fluctuating fuel costs may lie ahead.
Here are the possible increases:
- Petrol 93: Increase of six cents per litre.
- Petrol 95: Increase of nine cents per litre.
- Diesel 0.05% (wholesale): Increase of 10 cents per litre.
- Diesel 0.005% (wholesale): Increase of 12 cents per litre.
- Illuminating paraffin: Increase of one cent per litre.
The Department of Mineral Resources and Energy releases the official fuel prices a few days before they take effect. However, current data provides a reliable indication of the likely increase or decrease in fuel costs, even amid ongoing market uncertainty.
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