The Department of Mineral and Energy Affairs on Tuesday released preliminary information about the fuel price increases due to come into effect on September 1.
The Department of Mineral and Energy Affairs on Tuesday released preliminary information about the fuel price increases due to come into effect on September 1.
CARtoday.com warned last week that although fuel prices had decreased by 23 cents a litre earlier this month, consumers would no longer be protected against the effects of international crude oil prices because the rand had weakened after the interest rate cut.
The price of petrol will increase by 22 cents a litre, “normal” diesel (0,3 per cent sulphur) by 32 cents a litre. The price of diesel with a 0,05 per cent sulphur content is expected to increase by 37 cents a litre.
The department attributed the sharp rise in international crude oil prices to the political situation in the Middle East and concerns about the sustainability of international crude oil production.
There was also a high demand for crude oil by China, while oil producing countries were attempting to increase their earnings from oil amid international market speculation, the Department of Mineral and Energy Affairs said.