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  • Fuel prices will rise significantly on 4 August

  • The rise in prices is due to more expensive oil, and a weaker currency



Fuel prices will rise sharply at 00:00 AM on Wednesday (4 August).

The price of petrol will go up by 91 cents a litre while diesel will be between 54 cents and 55 cents per litre more expensive.

Paraffin will cost 50 cents per litre more.

The Money Show’s Bruce Whitfield interviewed Layton Beard, Spokesperson at the Automobile Association. (scroll up to listen).

Whitfield also spoke to independent economist Ndumiso Hadebe.

Everything is going to get more expensive… Taxes are playing a significant role…

Layton Beard, Spokesperson - Automobile Association

For August… 48 cents of the increase are as a result of international petroleum product price increases… 43 cents are the contribution of the exchange rate…

Layton Beard, Spokesperson - Automobile Association

The biggest drivers [of inflation] are fuel and food prices…

Ndumiso Hadebe, independent economist

In the short run, there is further support required from a fiscal point of view… In the long run, it’s important… to ensure we can improve competitiveness…

Ndumiso Hadebe, independent economist

This article first appeared on CapeTalk : Everything is going to get more expensive - Automobile Association

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