The mid-month data predicts an increase of up to 50 cents a litre for petrol, while diesel is heading in the opposite direction, with declines of up to 56 cents, matched by an anticipated 75-cent decline in illuminating paraffin.
“In a dramatic reversal of last month's oil swings, international product prices used to calculate South Africa's basic fuel price have nearly doubled since their lows at the end of April,” the AA explains.
The AA says that despite this, South African motorists now have some unusual capacity to absorb fuel price increases, with most grades of fuel about R4 a litre cheaper than at the start of 2020. Motorists are also driving far less due to the ongoing lockdown.
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