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Another big jump in fuel prices on the cards in August


Consumers
can expect a hefty increase on all fuel types in August due to an increase in import
prices, the Automobile Association said on Friday.

The AA –
which does not itself regulate fuel prices – said it expected a jump of around 83
cents a litre higher for petrol, 48 cents a litre for diesel, and 48 cents for
illuminating paraffin.

Its
comments come on the back of the unaudited month-end fuel price data released
by the Central Energy Fund this week.

“The
average Rand/US dollar exchange rate consistently trended upward during July
and the weaker local currency will make it more expensive for South Africa to
import fuel,” the AA said, adding that over the same period, international
oil prices averaged higher.

The expected increases will mean the petrol price would have climbed nearly 23% since
January. The diesel price would have climbed around 20% and illuminating
paraffin would have jumped by nearly a third at around 30%. 

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