Johannesburg - Independent economist Fanie Brink on Wednesday
said fuel prices were expected to rise next week Wednesday.
“According to the latest
information from the Department of Energy announced this morning, it could be
expected that the price of petrol 93 (ULP & LRP) in Gauteng could
increase by 12.9 cents per liter on Wednesday, 2 August 2017 and the price of
diesel with a 0.005% sulphur content by 26.6 cents per liter,” said Brink.
Brink said that the crude
oil price dropped to $46.71 a barrel early in the month, but recovered quickly
to $50.59 a barrel. The increases in the average international prices of
petroleum products caused increases of 1.0 cents per liter in the price of petrol and 14.5 cents per liter in the price of diesel.
“The volatility in the daily
average exchange rate during the past month between R/$13.54 and R/$12.86 added
further expected increases of 11.9 cents per liter to the gasoline price and
12.1 cent per liter to the diesel price,” said Brink.
The final price changes
would be announced by the Minister of Energy on Friday.