Petrol will likely still see a small decrease in August, but diesel looks set to go up.
Any hopes that July's significant fuel price decreases were the start of a downward trend were shattered with the resumption of hostilities in the Middle East on July 7, which has sent international oil prices surging.
While prices remain below the levels seen before the ceasefire, Brent crude has climbed significantly, rising from around $72 a barrel in early July to approximately $85.
But how will that affect August fuel prices in South Africa?
That is the million-dollar question and, given the volatility seen this month, it is not an easy prediction to make. However, if oil prices and the rand remain close to their current levels until the end of this month, our calculations show that petrol will likely see a price decrease of between 40 and 50 cents per litre.
