Petrol price to increase on Wednesday

The Department of Energy has confirmed that the price of petrol will increase by 49c per litre on May 3, reports the Ladysmith Gazette.

This is certainly sad news for Ladysmith motorists as they will feel the pinch in their pockets.

South African motorists have been hit by several petrol hikes since the beginning of the year, with another scheduled for Wednesday.

The department said this was due to the international product prices of petrol increasing during the recent period, as well as the rand having depreciated against the US dollar.

The statement, released on Wednesday, said the price of diesel and illuminating paraffin would also increase next week.

The department added that this would likely add to inflationary pressures and could hit consumers’ pockets hard.

– Caxton News Service