Petrol price to rise 1c/ℓ in August

30th July 2018

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

The petrol price will increase by 1c/ℓ on August 1, while the diesel price will decrease by 4c/ℓ, the Central Energy Fund (CEF) has revealed.

Illuminating paraffin will increase by 4c/ℓ and liquefied petroleum gas by 17c/kg.

The CEF attributed the changes in fuel prices to the depreciation of the rand against the dollar to R13.50, compared with R13.29 in the prior review period, while the average Brent crude oil price decreased from $74.26/bl to $72.15/bl.

“The oil markets started falling since last week as the Organisation of Petroleum Exporting Countries and Russia increased production. The commitments from Russia and Saudi Arabia to increase production and improved supply from Libya continue to weigh on oil prices.

“Furthermore, reports that China will increase infrastructure spending helped to lessen fears that the US–China tensions will reduce the country’s demand for oil,” the CEF noted.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION