August will signal a significant increase in the cost of petrol and diesel in South Africa. Here is a provisional look at the price of fuel ahead of the month. 
Unaudited fuel data from the Central Energy Fund (CEF) in the middle of the month pointed to increased prices for most fuel in August. But, says the Automobile Association (AA), this is likely to change before the prices are adjusted by the first Wednesday of the month.
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Looking at current CEF data, petrol should be going up between 20 – 30 cents per litre, while diesel is in for more than 60 cents per litre hike. This is in comparison to the CEF’s mid-month data, which projected increases of seven cents a litre in the price of 95 unleaded and a 48 cents rise in the price of diesel.
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“At this stage of the month the numbers are more reflective of the way the fuel prices are likely to go when they are adjusted at month-end for August. 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,” the AA notes.
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The current data reflects that international product prices – oil prices – are higher on average than the previous month and are the main contributors to the expected increases. The average Rand/US Dollar exchange over the reporting period remains relatively flat and is not contributing much in terms of relief in the fuel prices.
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“Naturally, we remain concerned that the effect of more diesel prices will impact directly on consumers through higher prices given that this fuel is a major input cost in so many sectors,” concludes the Association.
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