Fu­el pri­ce bre­at­her

George Herald - Auto Dealer - - News -

Bet­ter ex­chan­ge ra­te per­for­man­ce and retre­ats in in­ter­na­ti­o­nal oil pri­ces will me­an vir­tu­al­ly un­chan­ged fu­el pri­ces in Au­gust. T­his is ac­cor­ding to the Au­to­mo­bi­le As­so­ci­a­ti­on (AA), which was com­menting on u­nau­di­ted month-end fu­el pri­ce da­ta.

“Du­ring Ju­ly, the re­cent we­a­ke­ning t­rend of the rand a­gainst the US dol­lar slo­wed,” the AA says, no­ting that the lo­cal cur­ren­cy lost so­me ground, but on­ly mar­gi­nal­ly.

“O­ver the sa­me pe­ri­od, in­ter­na­ti­o­nal oil pri­ces sho­wed a s­lig­ht a­vera­ge de­cre­a­se which al­most ex­act­ly can­cel­led the rand’s los­ses.

“As a re­sult, pe­trol is ex­pected to in­cre­a­se by a­round two cents a lit­re, and il­lu­mi­na­ting pa­raf­fin by four cents a lit­re,” the as­so­ci­a­ti­on says.

“On the plus si­de, die­sel will be che­a­per by ap­prox­i­ma­te­ly four cents a lit­re. Af­ter se­ver­al succes­si­ve fu­el pri­ce in­cre­a­ses, mo­to­ris­ts and ot­her fu­el u­sers are due a bre­at­her, and the ge­ne­ral sta­bi­li­ty of the fu­el pri­ce du­ring Ju­ly will co­me as a re­lief to ma­ny.”

The AA no­tes that in­ter­na­ti­o­nal oil pri­ces sho­wed a s­lig­ht up­ward t­rend to­wards the end of Ju­ly and says that mo­to­ris­ts’ bud­gets would pro­ba­bly re­main un­der pres­su­re for the rest of the y­e­ar.

“2018 has been a y­e­ar of vo­la­ti­li­ty in the fu­el pri­ce, and the see-sa­wing rand and oil pri­ce sug­ge­st that cau­ti­on should be the wa­t­chword,” the as­so­ci­a­ti­on con­clu­des.

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