Petrol price increase in August

According to economist Laura Campbell, on an average basis, brent crude oil prices have increased to about 107 dollars per barrel in July, compared with an average of 103.302 dollars in June.

“Oil prices have increased in July compared with June on the back of fairly positive data out of the US which is used to gauge future oil demand,” she said.

While motorists were going to have to dig deeper into their pockets to pay for fuel, Campbell said, the recent strengthening of the rand against the dollar had served to limit the expected rise in the price of petrol in August.

On 3 July, petrol increased by 84 cents a litre, bringing the price to R13 per litre in Gauteng.