South African motorists will have to brace themselves for yet another fuel price increase – leaving drivers to count their pennies even more carefully than before.
The pressure of the fluctuating rand as it struggles against the US dollar has resulted in the price of fuel skyrocketing yet again, and will leave motorists across the country reeling.The Automobile Association (AA) is of the opinion that the price of fuel may surge as we enter July. This comes after an analysis of unaudited mid-month fuel data released by the Central Energy Fund.
The harsh increase has been attributed to the weak strength of the rand and, according to current foreign exchange services, its value currently sits at R13 per dollar.
The forecasted increase is set to stand at 32 cents a liter for petrol, 30 cents a liter for diesel and 22 cents for illuminating paraffin. June brought about an increase of 82 cents for 95 petrol, resulting in a cost of R 15.82 per liter.
South African motorists will have to brace themselves for yet another fuel price increase – leaving drivers to count their pennies even more carefully than before.
“Almost all of the increase is due to Rand weakness and the picture would have looked very much worse if international oil prices had not come down in the past two weeks,” the AA said.
It is not sure as to whether the oil price may increase or decrease as AAreferred to as at a ‘volatile status’ but in order to avoid unnecessary costs motorists are urged to use their tanks wisely and make use of car pooling and cost efficient methods of transportation besides driving.The increase in the cost of paraffin places pressures on the lower income bracket as its used for various domestic purposes and heating.
With the cold months still ahead of South Africans, it is a grim outlook for many. Motorists are advised to limit their use of petrol and avoid longer journeys that may put pressure on their tank and wallets.
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