Johannesburg - There’s more petrol-pump pain on the way for South African motorists, as the rand continues its slide against the US dollar.
The Automobile Association’s comments on the unaudited month-end fuel price data supplied by the Central Energy Fund paint a bleak picture: the price of petrol is expected to go up by 23-25 cents a litre, diesel by about 28 cents a litre and illuminating paraffin by 17 cents.
International petroleum prices remained virtually unchanged on average during August, and until mid-August a modest price decrease was looking likely for September. This did help cushion the sudden rand weakness that came later in the month. Consider this - daily spot prices have been running at a deficit of over 50 cents a litre since the middle of the month and unless that trend is reversed next month, another increase is likely in October.
R16 a litre, for 93!
And that's on top of the record fuel prices that motorists will see in September.
As the AA points out, the inland cost of a litre of 93 unleaded will rise above the R16 a litre mark for the first time.
Price of 93 octane inland since August 2017 and including 23 cents forecasted increase for September 2018.
And things are not going to get better anytime soon, say the AA analysts.
“With the rand still under pressure, a return to cheap fuels doesn't look likely," the AA said, "and motorists will continue to be forced to economise.”
Price of 95 octane inland since August 2017 and including 25 cents forecasted increase for September 2018.
Cost for 50 litres of 95 octane inland since August 2017 and including 25 cents forecasted increase for September 2018.