Motorists will have to reach deep into their pockets after the Department of Mineral Resources and Energy announced the latest fuel price adjustments for December.
There’s a major increase in the price of petrol and diesel which is set to take place on Wednesday, December 1:
- Petrol 95: increase of 81 cents per litre;
- Petrol 93: increase of 81 cents per litre;
- Diesel 0.05%: increase of 72.5 cents per litre;
- Diesel 0.005%: increase of 74.5 cents per litre;
- Illuminating Paraffin: increase of 42 cents per litre.
This massive hike comes as a result of a weaker rand and higher oil prices. The rand averaged at R15.85/$ over the past month, compared to R14.72 the previous month, while the average oil price also increased from $82.50 a barrel to $83 during the period under review.
“It is important to appreciate that fuel prices are soaring worldwide due to persistently high crude oil prices. Record pump prices have been experienced in many other countries,” the department said.