AA predicts significant petrol price increase

Reading Time: < 1 minute
The Automobile Association (AA) is predicting a significant petrol price increase of R1, 73 a litre from Wednesday, July 1st.
The price of diesel is also set to increase by R1, 74 a litre, while illuminating paraffin will cost R2, 14 more.
The AA has been commenting on unaudited month-end fuel price data – released by the Central Energy Fund.

Spokesperson – Layton Beard – says with winter in full swing, the poorest or the poor will be hardest hit.

“Although it is a huge increase. It’s not any silver-lining, but unfortunately, the trend is that we are seeing increase on the horizon. The major contributors to this are obviously the strength of the Rand against the US Dollar and we know that has taken a hit over the last couple of weeks.”

Fuel also increased in the beginning of June.

However, in May motorists paid R1.74 less for a litre of fuel.

The price of diesel went down by R1.61 cents per litre and illuminating paraffin by R2.23 cents per litre.

Plummeting oil prices caused by a virtual halt in global economic activity during the coronavirus pandemic led to the decrease.