Motorists can expect to see a sharp rise in fuel prices next month, thanks mainly to rising oil prices and a slightly weaker local currency against the dollar.<\/p>\n
Citing the latest information from the Department of Energy, independent economist Fanie Brink said that the price of gasoline 93 (ULP & LRP) in Gauteng could increase by 60.5 cents per litre next month, and the price of diesel with a 0.005% sulphur content by 56.4 cents per litre.<\/p>\n
The Brent crude oil price increased to an average of $52.70 a barrel over the first two weeks of August, compared to an average of $48.10 a barrel for the same period last month, Brink said.<\/p>\n
This increase in the crude oil price resulted in sharp rises in the average international price of gasoline, by 55.5 cents per litre, and an increase in the average international price of diesel by 51.4 cents per litre.<\/p>\n
The R\/$ exchange rate traded between R\/$13.15 and R\/$13.50 during the first two weeks of this month which was slightly weaker than the same period last month, and resulted in a further increase of five cents per litre in both the gasoline and the diesel price, the economist said.<\/p>\n
“The rand has weakened an average of 20 cents against the US dollar since the start of August,” the the Automobile Association said.<\/p>\n
It said it expected the price of illuminating paraffin to rise by 58 cents, which will have a strong negative effect on households which rely on this fuel for cooking, lighting and heating.<\/p>\n
“The eand’s trend over the past two weeks has been towards further weakness against the US dollar, and international fuel prices have traded in a fairly narrow band, meaning we do not expect the picture to improve by month-end,” the AA said.<\/p>\n
The final price changes will be announced by the Minister of Energy towards the end of the month.<\/p>\n
Here\u2019s what you can expect to pay in September:<\/p>\n
| Fuel<\/th>\n | August official<\/th>\n | September expected<\/th>\n<\/tr>\n |
|---|---|---|
| 93 Petrol<\/td>\n | R12.82<\/td>\n | R13.43<\/td>\n<\/tr>\n |
| 95 Petrol<\/td>\n | R13.05<\/td>\n | R13.66<\/td>\n<\/tr>\n |
| 0.05% Diesel (wholesale)<\/td>\n | R11.27<\/td>\n | R11.83<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n \n |