A weaker rand will drive fuel prices up in September, the Autombile Association (AA) said when commenting on unaudited month-end fuel price data released by the Central Energy Fund (CEF).
AA noted that 95 Octane fuel is expected to rise by 10 cents per litre, while diesel will increase by 25 cents.
Illuminating paraffin will go up by 21 cents increase, while 93 Octane fuel will drop by three cents per litre.
“The average landed price of fuel dropped across the board during August. If the Rand/US dollar exchange rate had remained flat, we could have been looking at a drop of up to 30 cents a litre for diesel and nearly 52 cents for petrol.
“Unfortunately, continuing Rand weakness means that prices will increase instead,” the AA said in a statement. “There are encouraging noises coming from finance minister Tito Mboweni, but these must lead to concrete action. Our concern is that an ever-weakening rand robs motorists of the opportunity to benefit from lower oil prices.”
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