Another petrol price hike on the cards for August
South Africans could be forced to tighten their belts even more next month with another fuel price hike on the cards for August.
Economist, Mike Schussler, says an increase of around 20 cents per litre of petrol is very likely.
"It will be around 20 cents more - whether 18 cents or 22 cents exactly that I cannot say for sure - however it should be in the region of around 20 cents more per litre", he said.
Schussler says an increase could be ushered in by the Rand’s weakness - among other things.
"The oil price remains at about 80 dollars per barrel although it did come down recently and the Rand also strengthened recently, but we are, at the moment, looking an undercovery of about 25 cents", he said.
"So given that we are half way through the month we believe we will be sitting with a petrol increase of around 20 cents per litre", Schussler said.