Petrol on the up; wallets on the down
Fuel prices are set to increase on Wednesday, bringing motorists to their knees.
According to a statement issued by the Department Energy, fuel prices will increase by 29 cents on Wednesday, July 2.
Fuel prices in South Africa are adjusted on a monthly basis, after a review is done by the department of energy on international and local factors.
Johannes Mokobane, Department of Energy spokesperson, said the increase is due to changes in the crude oil price. “The Rand depreciated against the US dollar from $10.40 to $10.68 during the period under review,” he said.
The price of crude oil increased to a staggering 115 US Dollars per barrel on June 19, leading to the increase.
Based on ‘current local and international factors’, the increases will be as follows:
– Diesel will increase by 14.0 cents/ litre
– Illuminating paraffin (SMNRP) will increase by 31.0 cents/litre
– Petrol (93 ULP and LRP) will increase by 29.0 cents/litre.
– Petrol (95 ULP and LRP) will increase by 31.0 cents/litre.
– Liquefied Petroleum Gas (LPG) will increase by 58.0 cents/kilogram
The statement concluded with a request from the department, urging all motorists to continue
implementing fuel efficiency measures, such as using public transport and utilising lift clubs whenever possible to ensure that they save fuel.
