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Slight increase in fuel price a possibility

The Automobile Association of South Africa have predicted a slight increase in fuel prices going into August.

Fuel prices in South Africa are set to increase in August as compared to July.

According to the Automobile Association of South Africa (AA), “The current data reflects that international product prices – oil prices – are higher on average than the previous month and are the main contributors to the expected increases.”

The forecasted increase is around 7c/L of 95 unleaded, 48c/L of diesel and 47c/L of illuminating paraffin.

The Department of Mineral Resources and Energy will make a formal announcement, and further changes to the data are possible.

“Naturally, we remain concerned that the effect of more diesel prices will impact directly on consumers through higher prices given that this fuel is a major input cost in so many sectors,” concludes the Association.

Source: AA

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