The latest fuel price adjustments are set to take effect on Wednesday, with the Automobile Association (AA) highlighting significant increases in petrol and diesel costs based on unaudited data from the Central Energy Fund (CEF).
According to this data, the price of petrol is projected to rise by approximately R1.59 per litre for ULP93 and R1.65 per litre for ULP95 as reported by Jacarandafm. Meanwhile, diesel prices are expected to surge by a substantial R2.85 per litre.
Layton Beard, the spokesperson for the AA, emphasized that these anticipated increases would push petrol prices to their highest levels since July 2022. He attributed these rising fuel costs primarily to increased international oil prices, which have surged due to sluggish demand and reduced oil production.
While the rand has shown some weakening against the US dollar in August, Beard noted that it’s not a major factor contributing to the expected fuel price hikes, as the primary driver remains the upward trend in global oil prices.
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Photo: Twitter / @Jacaranda FM