Brace For July Petrol Price Hike

Brace For July Petrol Price Hike
 

Petrol prices in Gauteng will increase by 44c per litre for 93 octane and 41c for 95 octane from July 1‚ the Department of Energy said in a statement late on Friday. Both grades of diesel — 0.005% sulphur and 0.05% sulphur — will increase by 4c/l.

Illuminating paraffin will increase by 8c per litre and illuminating paraffin (wholesale price) will increase by 6c per litre. Liquefied petroleum gas (LPG) will increase by 56c per kilogram‚ the department said. It said the increase in the prices of all the petroleum products was due mainly to the weakening of the rand against the dollar during the period under review.

“The rand lost about 40c against the US dollar since the end of May 2015 as a result of negative sentiment on emerging markets globally. “Furthermore‚ the international prices for petrol increased on average‚ while the prices for diesel and illuminating paraffin decreased. The increase in the international prices of petrol was mainly due to strong demand for petrol (driving season) in Europe and to pre-Ramadan buying in the Asian market‚” the department added.

BDlive