CONFIRMED: Hefty price hike in petrol as from Wednesday
One of the reasons for the spike is the continued upward march of international petroleum prices in May
UPDATE:
The Department of energy has confirmed the price increases on Monday:
Petrol: 52 cents
Diesel 76 cents
Paraffin: 62 cents
Previous article:
The Automobile Association has warned motorists to brace themselves for a huge fuel price hike in June, with further spikes in the coming months.
The AA said in a statement fuel prices were set for a sharp jump.
Commenting on the unaudited month-end data supplied by the Central Energy Fund (CEF), the AA said the pump price for a litre of petrol was set to increase by 52 cents, while illuminating paraffin and diesel were set to go up by 61 cents and 78c respectively.
The reasons for the spike are the continued upward march of international petroleum prices in May and the weakening Rand/US dollar exchange rate.
The combination of firmer oil and weaker rand has exposed the consumer to the full force of oil’s strength, the AA said.
