Prepare For Petrol Price Hike

Prepare For Petrol Price Hike

The price of petrol, diesel, paraffin and liquefied petroleum gas (LPG) will increase this week, the energy department said. The increase would come into effect on Wednesday.

Petrol would go up by 96 cents, diesel by 74 cents, paraffin by 73 cents and LPG by R1.54.

“The main reason for the fuel price increases is the average increase in the price of crude oil (by about 20 percent) during the period under review compared to the previous period,” the department said in a statement. “The other reason is the depreciation of the rand against the US dollar.”

The slate levy on petrol and diesel would however, remain unchanged at zero percent per litre.

The department said it believed the price of crude oil would stabilise around the current level and no major price shocks were expected in the near future.