Petrol and Diesel price increase on the horizon
The Automobile Association (AA) has warned of record increases in the price of diesel ahead of the upcoming monthly adjustments.
The AA said the additional diesel costs are tipped to be close to R3 per litre, while both grades of petrol are expected to increase by upwards of R1.50 a litre.
The increase in the price of petrol will also make it the highest since July last year.
The AA published its latest forecast on Friday the 1st of September 2023 following the release of unaudited data from the Central Energy Fund.
This means cash-strapped consumers may have to dig deeper into their pockets from next week, when the Department of Mineral Resources and Energy announces the increases.
Meanwhile, AA spokesperson Layton Beard said international factors are behind the possible hike.
“While the rand has weakened on average against the greenback in August, it’s not a major contributor to the expected increases that fall squarely on rising international oil prices," Beard added.
The association is also anticipating that the increases in the fuel prices, especially to diesel, will have negative consequences for all consumers.