Bad news for motorists with fuel prices set to rocket in July

Oil is continuing its march back towards its previous levels in the first half of June, setting the scene for further hefty fuel priceincreases going into July.

Oil is continuing its march back towards its previous levels in the first half of June, setting the scene for further hefty fuel price increases going into July.

Based on current figures, petrol is set to climb by up to R1.59 a litre, diesel by R1.48 and illuminating paraffin by R1.94. "With world demand expected to continue to increase, South Africans must expect the fuel price to gradually edge back towards pre-Covid-19 levels." "South Africans are also benefiting from increasing Rand strength, with the local currency having made up 60c against the US dollar since the start of June, and briefly breaching the psychological R17 to the dollar mark. In fact, the Rand's firmer performance in June has offset the fuel price increases by around 36c a litre to date," the AA noted.

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