The retail price of petrol is expected to rise by five cents a litre from next Wednesday, according to the minerals and energy department.
The retail price of petrol is expected to rise by five cents a litre from next Wednesday, according to the minerals and energy department.
reported that the department said the wholesale price of diesel with 0,3 per cent sulphur content would increase by one cent per litre, illuminating paraffin by one cent per litre in wholesale prices and two cents per litre in single maximum national retail price.
The department explained that from July 26 to August 25, the international prices for Brent crude oil mainly moved in a price band of between US$28 and 30 per barrel. It said this was on average approximately two dollars per barrel (about R15 per barrel or 10c per litre) higher than the price band of Brent crude oil prices during the previous fuel price review period. The department added that international refined petroleum products followed the higher crude oil prices.
Compared with the previous fuel price review period, the average value of the rand had strengthened against the US dollar since the beginning of the current fuel price review period. The stronger value of the rand against the US dollar cushioned increases in the basic fuel prices by approximately four cents per litre and thus the anticipated fuel price adjustments.
The petrol price went up by 18 cents a litre in August. The price of diesel went up by six cents a litre and illuminating paraffin by 10 cents a litre.
