Price of fuel is ex­pected to rise

The Star Early Edition - - BUSINESS REPORT - – BR on­line re­porter

IN­DE­PEN­DENT econ­o­mist Fanie Brink has said fuel prices were ex­pected to rise on Wed­nes­day. “Ac­cord­ing to the lat­est in­for­ma­tion from the Depart­ment of En­ergy, it could be ex­pected that the price of petrol 93 (ULP & LRP) in Gaut­eng could in­crease by 12.9 cents per litre on Wed­nes­day, Au­gust 2, and the price of diesel with a 0.005 per­cent sul­phur con­tent by 26.6c per litre,” said Brink. The crude oil price dropped to $46.71 a bar­rel early in the month, but re­cov­ered quickly to $50.59 a bar­rel. The in­creases in the av­er­age in­ter­na­tional prices of petroleum prod­ucts caused in­creases of 1.0c per litre in the price of petrol and 14.5c a litre in the price of diesel.

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