Petrol party turns sour with expected 51c price hike
The recent period of fuel price reductions is set for a reversal as the weakening rand and stronger international petroleum prices combine to cause pain at the pumps.
This is according to the Automobile Association (AA), which was commenting on unaudited mid-month fuel price data released by the Central Energy Fund. The AA said the current data on petrol shows the hike is likely to be around 51 cents a litre. Diesel and illuminating paraffin are currently showing possible increases of around 24c/l.
The petrol price decreased from R13.34/l inland and R12.86/l at the coast for 95 unleaded to a respective R12.17 and R11.69 currently.
"The rand's slow, steady appreciation against the US dollar during July and August was dealt a considerable setback by the controversy surrounding the Hawks' investigation of Finance Minister Pravin Gordhan," the AA said.
"At around the same time, international petroleum prices began to appreciate, and the combined effect will be particularly significant for users of petrol."
By 12:08 the and was trading at R14.26/$ and Brent crude oil at $46.11 a barrel.
"With the rand still on a weakening trend against the US dollar, the fuel price move at the end of September will depend largely on international petroleum prices," the AA said.
"Any significant international event which leads to further oil price strength is almost certain to be bad news at the pumps for South Africans."
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Design, Construction and Maintenance of Site Erected, Welded Bulk Storage Tanks for the Petrochemical, LNG, Ammonia and Sustainable fuel Sectors.
VISIT SHOWROOM
For over 15 years, Lilak Aluminium, a trusted leader in architectural extrusion supply, has delivered excellence to businesses like yours.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
