The Automobile Association has been monitoring the data and it looks like we’re in for some substantial fuel price hikes in July 2020.
The oil price is slowly regaining its value after a massive dip early in 2020 and this unfortunately means we’re heading for some fuel price increases. Based on the current data, the Automobile Association of SA says, “petrol is set to climb by up to R1.59 a litre, diesel by R1.48, and illuminating paraffin by a massive R1.94.”
Since the oil price plummeted after the past 4 months resulting in great price reductions for SA consumers, it was only a matter of time before it would bounce back. Unfortunately this rebound is happening and will undo many of the savings. It’s not all doom and gloom however, as the AA says it will take some time for the oil price to fully recover, which gives SA motorists some breathing space.
“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. In fact, the Rand’s firmer performance in June has offset the fuel price increases by around 36 cents a litre to date,” the AA notes.
We’ll have the final changes as we draw closer to the end of June 2020 and will update our SA petrol price.
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Original Story by www.cars.co.za
