South African motorists can expect further increases at the pumps in August, on the back of higher oil prices, and despite a stronger rand, Business Tech reported.
Mid-month data published by the Central Energy Fund (CEF), shows that if market conditions persist at current levels, motorists can expect a price hike of around 34 cents per litre of petrol, and 68 cents for diesel next month.
The projected price changes would follow sizable hikes over the past two months, with petrol having increased by R1.72 per litre, and diesel by R1.73 per litre in July.
The rand/dollar exchange rate – also a big factor in determining local fuel prices – has worked in South Africa’s favour in the month to-date, undercutting some of the increases seen due to climbing oil prices.
These are the expected changes at mid-July: