Fuel prices are expected to rise across the board in South Africa in August, according to data from the Central Energy Fund (CEF).
- Petrol ULP95 is expected to increase by about 35c/l, and petrol 93ULP by about 30c/l.
- Diesel is expected to increase by around 72c/l, which will have a significant impact on consumers and businesses as it will increase the cost of goods and services.
- Illuminating paraffin is also expected to increase by around 72c/l.
- The main driver behind the expected increases is increased international oil prices.
- The recent recovery of the rand against the dollar has helped to mitigate the impact of the fuel price hikes.
- This comes after a drop in petrol prices and an increase in diesel prices in July.
- The fuel price hikes will be a blow to cash-strapped South Africans who are already struggling with high levels of unemployment and inflation.