Fuel price is likely to increase in August 2020
The fuel price is set to climb within the first week of August 2020, but not as high as initially expected according to the AA. While exact figures are unknown at this stage, the AA does have predictions with the known data.
“Oil traded in a fairly tight range throughout July, but it was a substantial climb at the beginning of the month, plus some recent volatility, that combined to push prices higher.” – AA
With the current knowledge we have, an increase in petrol is likely to be from 9 to 16 cents per litre, while diesel rises by 48 cents and illuminating paraffin by 43 cents. Without the Rands good performance this month, the price of fuel would have increased even higher during August 2020 according to the Asociation.
“The Rand gained eight cents against the US dollar during July and the average exchange rate has firmed to below R16.90. With so much negative news surrounding the economy, the Rand’s firmer trend is welcome, but we would like to see the government support this trend in the area of economic policy certainty.” – AA
With the steady increase in oil price, we advise all motorists expect and plan for more in these coming months. Continue reading: The latest Mini Cooper will skip all the fuel price drama.
Source: AA
Photo by Wassim Chouak on Unsplash
