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Petrol price to go up again!

Motorists can expect yet another increase in the price of fuel in August. This as unaudited mid-month fuel data from the Central Energy Fund is pointing to increased prices for most fuel.

According to the Automobile Association, higher-than-average international oil prices are the main contributors to the expected increases.

Based on the current data, ULP95 petrol is showing an increase of about seven cents a litre, while ULP93 is showing a nominal decrease of just over 1c/l. Diesel, however, is again showing significant increases for the second month in a row. The outlook at mid-month is of an increase of about 48c/l. Illuminating paraffin is also showing an increase of about 47c/l.

“At this stage of the month the numbers are more reflective of the way the fuel prices are likely to go when they are adjusted at month-end for August.

“Currently the trajectory indicates that all fuel will be more expensive in August, with the quantum of the increases most probably being higher than the current data indicates.

“Naturally, we remain concerned that diesel prices will impact directly on consumers through higher prices given that this fuel is a major input cost in so many sectors,” added the AA.

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