Motorists can expect a big knock to their pockets at the pumps in August with petrol expected to go up by around 83 cents a litre and diesel by 48 cents a litre. Illuminating paraffin is also set to increase by 48 cents.
The Automobile Association was commenting on unaudited month-end fuel price data released by the Central Energy Fund and noted that the average Rand/US dollar exchange rate consistently trended upward during July.
This weaker local currency makes it more expensive for South Africa to import fuel, while international oil prices averaged higher over the same period, despite a mid-month pullback.
The Association added that these new increases will mean the price of petrol will have climbed nearly 23% in just seven months since January.
Diesel will have climbed around 20% and illuminating paraffin by close to 30% over the same period.
The AA noted that a litre of 95 unleaded cost R14.86 in January compared to the expected new price of around R18.22 in August.
In January, a litre of diesel cost R13.00 compared to the expected August price of R15.56.
The AA concluded that these increases will add to the heavy financial burden for South Africans already battered by weak economic conditions.
