Bleak outlook for fuel prices — AA

The inland cost of 93 unleaded octane fuel could be pushed above the R16 per litre mark in September, the Automobile Association (AA) said on Thursday.

It expects that petrol will increase by between 23c and 25c a litre, with diesel rising by around 28c and illuminating paraffin by 17c in September.

“This will, for the first time, push the cost of 93 unleaded octane fuel inland above the R16 a litre mark, a significant barrier,” the AA noted.

The current inland price of 93 unleaded is R15.81 a litre. If it does increase by between 23c and 25c, as the AA predicts, the price will rise to between R16.04 and R16.06 a litre.

The inland price of 95 octane unleadedalready breached the R16 a litre price point in early July.

The AA was commenting on unaudited month-end fuel price data supplied by the Central Energy Fund. “International petroleum prices remained virtually unchanged on average during August,” it said, adding that because the rand had lost substantial ground against the US dollar, it had increased the landed price of fuel.

And the future outlook of fuel prices also remains bleak. “The rand remains under pressure and a recent spike in international oil prices could mean more pain at the pumps if it continues.”

“A return to cheap fuels doesn’t look likely and consumers will continue to be forced to economise.”

The government will release its official figures for the fuel price between Friday and Sunday. — Fin24

We make it make sense

If this story helped you navigate your world, subscribe to the M&G today for just R30 for the first three months

Subscribers get access to all our best journalism, subscriber-only newsletters, events and a weekly cryptic crossword.”

Agency
External source

Related stories

WELCOME TO YOUR M&G

Already a subscriber? Sign in here

Advertising

Latest stories

OPINION| New UK work visa to exclude graduates from Africa

If graduates did not get their qualifications from the list of top 50 universities, 40 of which are in the US, France, China, Hong Kong, Australia, Germany, Canada and Japan, they will be excluded

Hackers infiltrate SA illicit financial flows conference with porn clip

The conference was attended by state agencies, blue- chip global and local non-governmental agencies and public accountability experts

OPINION| South African audiences want more authentic and accurate diversity...

The media has the power to shape perceptions, so television shows and movies can help shape a positive view of people who feel stereotyped

Interdict threat over new Tendele coal mine in KwaZulu-Natal

Tendele Coal plans to open a new mine despite a court ruling that the licence was unlawfully granted
Advertising

press releases

Loading latest Press Releases…
×