BusinessLive reports that the petrol price reached a record high in July and things are about to get worse in August.

Motorists can expect further hefty price hikes when the monthly fuel price adjustment takes place on 4 Aug, with the Automobile Association (AA) expecting petrol to go up 83c/l, diesel by 48c and illuminating paraffin by 48c. Commenting on unaudited month-end fuel price data released by the Central Energy Fund, the AA said the average rand/US dollar exchange rate consistently trended upward during July and the weaker local currency will make it more expensive for SA to import fuel. Over the same period, international oil prices averaged higher, despite a mid-month pullback. The association says the new increases will mean the price of petrol will have climbed nearly 23% since January, the diesel price about 20% and illuminating paraffin about 30%.

• Read the full original of the report in the above regard at BusinessLive
• Read too, Sharp increase in petrol and diesel prices on the cards for August, at The Citizen

Get other news reports at the SA Labour News home page