Business Live reports that as a large proportion of monthly income is spent on transportation, the petrol price has the potential to affect individual spending capacity, the overall cost of goods and South Africa's gross domestic product.
The local prices rises have been fuelled by international prices that have seen the average price of oil rise from $61,77 a barrel to $107,88 in July this year. Morawitz says the rand/dollar exchange rate, the supply of oil and the refining costs were important factors in fuel price movements.
The price of petrol increases by nine cents a litre today mainly as a result of the deterioration of the rand against the dollar and Business Report says that oil prices dropped to below $86 a barrel in Asia with benchmark oil for October delivery falling to $85,80.
The price of Brent crude - used to calculate South Africa's prices - was at $111,58 on London's ICE Futures exchange.
