Johannesburg - There’s more petrol-pump pain on the way for South African motorists, as the rand continues its slide against the US dollar.
The Automobile Association’s comments on the unaudited month-end fuel price data supplied by the Central Energy Fund paint a bleak picture: the price of petrol is expected to go up by 23-25 cents a litre, diesel by about 28 cents a litre and illuminating paraffin by 17 cents.
International petroleum prices remained virtually unchanged on average during August, and until mid-August a modest price decrease was looking likely for September. This did help cushion the sudden rand weakness that came later in the month. Consider this - daily spot prices have been running at a deficit of over 50 cents a litre since the middle of the month and unless that trend is reversed next month, another increase is likely in October.
R16 a litre, for 93!
And that's on top of the record fuel prices that motorists will see in September.
As the AA points out, the inland cost of a litre of 93 unleaded will rise above the R16 a litre mark for the first time.
And things are not going to get better anytime soon, say the AA analysts.
“With the rand still under pressure, a return to cheap fuels doesn't look likely," the AA said, "and motorists will continue to be forced to economise.”