ANOTHER HIKE WILL BE HEFTY ON THE POCKETS
Each month I have shared the latest news on the petrol price fluctuations. Some months I’ve had good news to share, some months… not. This month is not good news at all! This Wednesday, 3 July, will see the petrol meters ticking up another 84c per litre. The diesel pumps will be set to 78c higher per litre.
My Gauteng clients will now pay R13.23 for 95 petrol and R13.00 for 93; R12.19 for low-sulphur 0.005 diesel and R12.15 for standard 0.05 diesel. Capetonian and Durbs clients, you'll now fork out R12.86 for 95 petrol and R11.88 for low-sulphur diesel.
According to a report from IOL, international crude oil prices remained relatively stable during the most recent review period, so the main contributor to the increase is the weakness of the rand, according to the energy department.
During the review period, the rand traded at an average of R10.05 to the dollar, compared to R9.30 during the preceding month.
There are many factors involved in the petrol price, but the strengthening of the rand to under R10/$ may hold some light on the horizon for August prices… but we’ll just have to see where it goes! The increased pressure from petrol prices will most definitely be felt in the prices of food and other items. If you’re needing to cut some expenses, take a look at my end of the month saving tips for some easy ideas to start saving money now!