Price of fuel is expected to rise
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.