Home Business Petrol, diesel hikes announced for Wednesday

Petrol, diesel hikes announced for Wednesday

Petrol, diesel hikes announced for Wednesday
The government recently exhausted its strategic fuel reserves in a bid to avert price increases for fuel.

THE price of 95-octane unleaded petrol will rise by R2.33 a litre on Wednesday, while 93-octane unleaded petrol will go up by R2.43 a litre, the Department of Mineral Resources and Energy has announced.

Diesel prices will rise by R1.10 (0,05 percent sulphur) per litre and R1,07 (0,005 percent sulphur) per litre respectively, while illuminating paraffin will be R1,56 more expensive per litre.

The maximum liquefied petroleum gas (LPG) retail price will fall by 51c per kilogram.

The fuel prices were pushed higher by oil, with the average Brent crude oil price increasing from $104,78 a barrel to $115 over the past month.

Wednesday’s increases are smaller than feared after the Treasury decided to grant an extension of the reduction in the general fuel levy.

The petrol levy was cut by R1,50 a litre for April and May as the government sought to relieve the economic stress of surging fuel prices. Around R6 billion of the state’s strategic oil reserves were sold to fund the levy cut. But the sale will not entirely fund the extension. Fin24


Please enter your comment!
Please enter your name here