Fill up while you can ⛽ fuel prices set to go up from next week📈💸Find out how much it will cost you. petrolprice fuelprice CostOfLivingCrisis TheCitizenMotoring Get all the details here⬇️
The fuel prices are usually adjusted on the first Wednesday of a month and primarily determined by the price of oil and theThe expected hike in the petrol and diesel prices come despite a stronger rand, which has contributed to an over-recovery of 19 cents per litre for all grades.
However, this positive move for prices is not enough to counteract the effect of rising global oil prices, which are contributing to a 37 cents to 77 cents per litre under-recovery in prices. While the rand has remained relatively flat against the dollar, the global oil price has strengthened in recent weeks.
After falling to below $78 a barrel in the first week of January, it’s now above $82 as traders expect that demand from China will strengthen as its economy reopens. At the time of writing, on 26 July, the international price of Brent Crude oil was listed at $82 while the rand was trading at R18 to the US dollar. snapshots are not predictive and do not cover other potential changes like slate levy adjustments or retail margin changes which could come into play when the fuel price is determined.
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