Petrol price expected to rise by more than R1 again next month

VAAL TRIANGLE - Vaal Triangle and other SA motorists are expected to be hit by another fuel price increase from July as international oil prices continue upwards. According to the Automobile Association, mid-month data from the Central Energy Fund is pointing towards a petrol price increase of around R1.59 a litre, while diesel looks set to go up by R1.48 and illuminating paraffin by R1.94. However, the latest daily prices hint that the increases could be slightly less than the above-mentioned if current trends persist. The AA said oil is continuing its march back towards its previous levels in the first half of June, setting the scene for further hefty fuel price hikes going into July. On the upside, the AA said that it will likely take at least a few months for international oil prices to return to pre-Covid-19 levels, which means that for now at least, motorists do have a bit of a breather. The AA added South Africans are also benefiting from increasing rand strength, with the local currency having made up 60c against the US dollar since the start of June, and briefly breaching the psychological R17 to the dollar mark. It said the rand's firmer performance in June has offset the fuel price increases by around 36 cents a litre to date.

PHOTO: (Supplied)

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