Motorists may need to scrounge around for extra change in their pockets this July as petrol is expected to increase by approximately 23 cents a litre. While diesel is expected to increase by 38 cents and illuminating paraffin by 32 cents, reports IOL.
The Central Energy Fund, the Automobile Association (AA) commented on the possibility of a rise in petrol prices:
“International petroleum prices have climbed throughout June. Even some marginal gains on the Rand have not been enough to counter the rise.
On average, the Rand was positive against the US dollar during June, but the daily exchange rate has sagged alarmingly since mid-month, weakening from around R13.75 to the dollar to nearly R14.30,” the AA stated.
According to ENCA, the drastic increase in petrol and diesel prices are mainly due to oil price and rand strength and considering South Africa purchases their oil in US dollars, it’s not great news for motorists.
While motorists will feel the pinch, the increase will hit individuals who utilise paraffin in their daily lives the hardest – mainly cooking, lighting, and heating – as South Africans bundle up for a cold winter, and load shedding looms in the background.