Home Business and Technology Petrol price to increase next month

Petrol price to increase next month

Petrol price

The cost of fuel continues to put pressure on South Africans. Even middle-income earners are increasingly reworking their budgets to be able to get to work. The petrol price is set to increase by about 12 cents next week.Diesel is likely to drop by 16 cents a litre.

The news comes according to unaudited data from the Central Energy Fund. The Automobile Association says the paraffin price may also drop by 8 cents a litre.

The two big factors affecting the price movements are the rand/dollar exchange and international oil prices.

Petrol price

Oil prices have steadily trended upwards since the start of June but has pulled back since a peak on 11 July.

The AA says the currency remains volatile with particularly in light of recent ratings agency announcements and other factors.

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Source: eNCA