Fuel prices projected to increase due to weak rand, rebound in global oil market - AA

iStock

The Automobile Association is projecting that South African motorists will pay about R1.73 more for a litre petrol, and R1.74/l more for diesel, from next week when fuel prices for July come into effect.  

It was commenting on unaudited month-end fuel price data released by the Central Energy Fund.

The AA said the main reason for the rise in fuel prices is the rebound in international oil prices. 

It also expects the price of illuminating paraffin to rise by R2.14, which it described as a "huge blow to citizens who use paraffin for cooking, lighting, and especially heating during winter."

Official changes in the fuel price have not yet been announced. 

The AA said a weak rand was also contributing to rising prices. 

"We cannot overstate the effect that the rand's collapse is currently having on fuel users: if the rand had remained at its pre-Covid-19 levels, fuel users would likely be seeing a reduction in fuel prices in the order of 75 cents a litre next month."

Compiled by Jan Cronje 

ZAR/USD
16.55
(+0.78)
ZAR/GBP
20.92
(+0.37)
ZAR/EUR
18.93
(+0.67)
ZAR/AUD
11.62
(+0.40)
ZAR/JPY
0.16
(+0.47)
Gold
1807.86
(-0.06)
Silver
19.25
(-0.03)
Platinum
830.00
(+0.18)
Brent Crude
43.06
(+0.42)
Palladium
1963.00
(+0.31)
All Share
56374.05
(+1.52)
Top 40
52048.69
(+1.59)
Financial 15
10697.88
(+1.61)
Industrial 25
76413.30
(+1.19)
Resource 10
54358.32
(+2.14)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
I'm not really directly affected
18% - 2173 votes
I am taking a hit, but should be able to recover in the next year
23% - 2774 votes
My finances have been devastated
35% - 4197 votes
It's still too early to know what the full effect will be
25% - 3012 votes
Vote