August will not be a good month for motorists with fuel prices expected to increase. According to the Central Energy Fund (CEF), motorists are looking at a price hike between 20 and 25 cents a litre for petrol and 60 cents a litre for diesel.
Although the rand has strengthened against the dollar, an increase in global oil prices has driven the anticipated fuel hike.
The Automobile Association (AA) has warned that the fuel hike could even be higher if oil prices persist until the end of the week when the prices are finalized.
“Currently, the trajectory indicates that all fuel will be more expensive in August, with the quantum of the increases most probably being higher than the current data indicates,” said AA.
Over the last few months, motorists faced a sigh of relief as petrol prices kept on decreasing.
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