JOHANNESBURG – Fuel price data for the middle of July suggests motorists could see only a small petrol price cut in August, while diesel users may face a price increase. According to the Central Energy Fund, petrol is currently showing an over-recovery of just over R1 per litre, but diesel has moved into slight under-recovery.
The outlook has changed as global oil prices climbed above 80 US dollars a barrel due to renewed tensions in the Middle East. Analysts say a smaller fuel price cut or a diesel increase could drive up transport costs, add pressure to inflation and increase the overall cost of living.
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