South Africa
Weak Rand could hamper August fuel prices─── 07:00 Sun, 24 Jul 2022
The Department of Mineral Resources and Energy (DMRE) says the exchange rate between the US dollar and the Rand proves to be the stumbling block when it comes to the fuel prices for August.
Last week, the Automobile Association (AA) said in its mid-month report, that there could be a decrease in the price of 95 octane petrol by up to 90c per litre, while 93 octane petrol could be R1.07 a litre cheaper, diesel by 91c a litre and illuminating paraffin's decrease of about 94c per litre.
However, DMRE spokesperson, Robert Maake, says the falling Rand has since then eroded that forecast.
Maake adds we can expect the announcement of the fuel levies for August, on Friday. The new fuel prices will come into effect on Wednesday, 3 August.
