Although it was originally expected that fuel prices would go up by 10 cents a litre at the next round of adjustments on October 6, the Department of Minerals and Energy now anticipates greater increases, with at least one product to rise by as much as 24 cents a litre.
Although it was originally expected that fuel prices would go up by 10 cents a litre at the next round of adjustments on October 6, the Department of Minerals and Energy now anticipates greater increases, with at least one product expected to rise by as much as 24 cents a litre.
The price of 93 octane leaded, 93 octane unleaded, and 97 octane unleaded petrol will rise by 14 cents a litre. Ninety-five and 97 octane unleaded will see an increase of 12 cents a litre on Wednesday.
And the cost of diesel fuel will go up by a whopping 24 cents a litre.
Currently, international fuel prices are hovering at the R300-a-barrel mark, and earlier this week local analyst Tony Twine had forecast the price of petrol to increase by 10 cents a litre.
"We’ve just entered the October account period for our fuel pump prices in South Africa, so the rises in international crude oil will not affect us in October," Twine said at the time.
But added demand, mainly from the US and China, have placed pressure on global oil stocks and sent oil prices skyrocketing.
