The petrol price rose earlier this month by R1,18 per liter, while the price of diesel increased by between 21c and 22c per liter.
According to the Automobile Association’s (AA) forecast, the petrol price is expected to rise by R1,59 / ℓ, diesel by R1,48 / ℓ and paraffin by a whopping R1.94.
The AA says the basic fuel price has risen by 8% since June 1, while international oil prices began to recover after the massive declines over the past four months.
Worldwide, more and more economies are now reopening after production has almost stopped in many countries due to the Covid 19 pandemic. However, as demand begins to increase worldwide, South Africans can expect fuel prices to gradually return to pre-Covid-19 levels.
“South Africans also benefit from the strengthening rand. The local currency has strengthened by 60c against the dollar since the beginning of June, ”the AA said.
It’s only the middle of the month and the AA warns that the rise could be much greater by the end of the month.
