The Central Energy Fund (CEF) has released the forecast fuel prices for August 2021 and there is a significant price increase in all categories. The mid-month data currently indicates an increase of 83 – 87 cents per litre for petrol and 57 – 58 cents per litre for diesel. The final price adjustments are made by the Department of Energy at the end of the full period.
|Inland Fuel||July Price||Forecast August Price||Increase / (Decrease)|
The reason for the steep increase in prices is due to the average international product prices for petrol, diesel and illuminating paraffin increased during the period under review, and the rand slipping against the US dollar during the period under review, on average, when compared to the previous period.
The riots and looting that have taken place in KwaZulu Natal and some parts of Gauteng have added pressure to the fuel price increase. Adding fuel to fire road networks, transporting of goods including fuel are restricted whilst refineries in KwaZulu Natal remain closed.