Petrol will likely still see a small decrease in August, but diesel looks set to go up.
With the recent surge in international oil prices due to renewed hostilities in the Middle East, South African fuel prices are set for significant changes in August.
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.
