By Razeen Gutta
South Africans can expect a decrease in petrol prices come August, with a cut of between 22 and 26 cents per litre.This relief is due to positive petrol price recoveries despite looming US trade tariffs. The Central Energy Fund’s latest data confirms this trend.
However, diesel prices are set to rise by 62-63 cents per litre due to global supply concerns and higher demand.
“The sanctions package has lifted crude prices on the back of concerns about diesel supplies to Europe,” Florence Schmit, a strategist at Rabobank in London, said per Business Tech.
“Strength in diesel has been keeping crude prices elevated for the last few weeks,” he added.
The rand’s resilience is helping to cushion the blow with looming trade tariffs potentially set to impact the currency.
But for now, petrol users can look forward to a price cut. The official price adjustments will be announced on 6 August.
Pictured above: An Asron Energy garage
Source: @astronenergysa
