AA predicts drop in fuel prices for August

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AA predicts drop in fuel prices for August

According to AA, current unaudited mid-month data from the Central Energy Fund shows “95ULP petrol down by around 90c/l, 93ULP down by around R1.07/l” and the wholesale price of diesel “decreasing by around 91c/l”.

Engen service station. Image: CapeTalk
  • Petrol
  • Automobile Association
  • Energy Department
  • Diesel
  • Paraffin

JOHANNESBURG – Motorists can expect some relief at the pumps in August as the Automobile Association has predicted a drop in the cost of fuel in the new month.

According to AA, current unaudited mid-month data from the Central Energy Fund shows “95ULP petrol down by around 90c/l, 93ULP down by around R1.07/l” and the wholesale price of diesel “decreasing by around 91c/l”.

“Illuminating paraffin is also set for a decrease of about 94c/l,” the association said in a statement released on Friday.

The slight relief comes as the motorists and commuters are battling to find a budget to adjust to the increase in fuel prices by the Energy Department earlier this month. The increases saw both grades of petrol going up by R2.37 and R2.57 per litre, diesel increasing by R2.30 and R2.31 per litre for both grades of diesel and Illuminating paraffin costing R1.66 more.

“All of this is naturally good news for consumers and motorists and will ease some pressure on embattled budgets. We must, however, be cognisant of the fact that this is mid-month data, and that price outlook may change over the next two weeks before the August adjustment is made,” the association said in its statement.

The association also said the forecast drop is due to the drop in international petroleum prices which is driving the decreases but prices are being offset by a weaker rand/US dollar exchange rate, which is eroding otherwise sharply declining fuel prices.

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