Motorist are encouraged to brace themselves for an increase in fuel prices.
MOTORISTS can expect to pay between one and six cents more for a litre of petrol next week.
This is according to the Central Energy Fund’s (CEF) data that shows an under-recovery for both 93 and 95 petrol.
Petrol 95: increase of 6 cents per litre;
Petrol 93: increase of 1 cent per litre;
Diesel 0.05 per cent: decrease of 31 cents per litre;
Diesel 0.005 per cent: decrease of 32 cents per litre;
Illuminating paraffin: decrease of 26 cents per litre.
According to the fund, while the mid-month data serves as a snapshot, the Department of Energy makes adjustments based on a review of the full period.
Prices are affected by two main components the rand/dollar exchange rate, and changes to international petroleum product costs, largely driven by oil prices. Product prices for petrol have remained high, but flat, contributing to an 18-23 cents per litre under-recovery in the price.