The petrol hike is expected to hit South African’s wallets once again at the end of July. It is expected to increase by 19 cents as the rand fights to stay above water against the US dollar.
Motorists can expect this petrol hike to increase for the fifth time this year as it will reach a record of over R16 per litre of petrol based on an unaudited mid-month fuel price data release by Central Energy Fund.
Although the estimated increase was set at 24 cents a litre, the Automobile Association (AA) expects according to the relevant data, the increases will include; 19 cents a litre for petrol, 13 cents for diesel and 22 cents for paraffin.
This is what you can expect to pay
|Fuel||Expected August Price|
The reason for the expected increase amount decreasing can be attributed to the fluctuating international oil prices and the power of the Rand against the dollar. The rand has seen an increase of power as it claws its way out of the negative position against the dollar.
If the rand continues steadily against the dollar, there may be less of an increase than expected but locals are being cautioned to not get their hopes up due to the volatility of the financial situation.
The price of petrol has had a domino effect on the livelihoods of many Capetonians with those in rural areas bearing the icy temperatures as the price of illuminating paraffin increases, making it nearly impossible to afford heat.
Locals are digging deeper into their pockets to keep up with the increasing costs – from groceries to petrol and electricity.
Government has issued statements that they are aware of the current financial crisis that South Africans find themselves in and are working on measures to alleviate this.