Drivers across the country were delighted when the price of fuel dropped by nearly R1 for the month of July, but mid-month data from the Central Energy Fund (CEF) suggests the price of petrol may increase again slightly come August.
Motorists can expect to pay seven cents more per litre of 95 octane fuel, and four cents more for 93 grade.
Diesel, however, may become cheaper next month, as it is currently showing an over-recovery of 20 cents.
After several weeks of declining prices, international oil costs are rising once again. A combination of geopolitical tension in the Persian Gulf, a rate cut by the US Fed and tensions in the Gulf of Mexico has led to oil prices increasing over the past week.
Recent declines in the petrol price in South Africa have been driven by these previously declining oil prices, so it is unsurprising that petrol costs would increase slightly with the oil prices coming back up.
August expected price:
95 Petrol – R15.88
93 Petrol – R15.65
0.05% Diesel – R14.27
Picture: Pixabay