Motorists might get a breather as unaudited data released by the Central Energy Fund suggests that they might be decrease in fuel costs for the month of August.
According to unaudited data released by the Central Energy Fund on July 26, the over-recovery, for the month so far, points to a decrease of around R1.89 for 95 Unleaded. Unfortunately, what’s left of the “fuel tax holiday” is set to fall away next month, theoretically reducing the decrease to R1.14.
The diesel data for 50ppm is pointing towards a decrease of around R1.52, which would drop to 77 cents once the general fuel levy was reinstated, but if oil prices stay at their current level, then we could be looking at a decrease of closer to R1.
“Decreases offer immediate relief but increases filter into the economy over time, especially as those sectors affected by them don’t immediately adjust their prices downward, but instead wait for more consistent fuel cuts that lower their input costs,” the AA said.
“We stand by our call that a review of the fuel price structure, and an audit of the components that comprise the fuel price, is essential and long overdue to offer sustainable solutions that mitigate against rising fuel costs in the country,” the association added.
