Jan 29, 2023

AA Predicts An Increase In Petrol, Decrease In Diesel For September As Oil Retreats

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The price of petrol is currently at an all-time high following an increase of 91 cents a litre in August.

FILE PHOTO: Petrol attendant at a Engen garage in Bryanston. PICTURE: The Republic Images

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JOHANNESBURG: Fuel price outlooks are showing modest changes in all grades of fuel.

This is according to the Automobile Association (AA) which was commenting on unaudited mid-month fuel price data released by the Central Energy Fund.

“The current picture shows petrol increasing by around four cents a litre. On the upside, diesel is indicating a 16-cent decrease, with illuminating paraffin down by ten cents,” the AA said.

“The Rand’s average exchange rate was virtually flat against the US dollar in the first two weeks of August – it has moved less than three cents. But the local currency is trending weaker, and this may weigh more heavily against the fuel price by month-end,” the AA said.

The Association says the bulk of the fuel price change came from slight declines in international petroleum prices.

“Oil fell throughout the first week in August, flattened out, and subsequently fell further. If this trend is maintained, there is a possibility of price decreases for all fuel grades by month-end. This would bring some welcome relief after last month’s heavy increases,” the organisation noted.

The price of petrol is currently at an all-time high following an increase of 91 cents a litre in August.

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