Petrol hike to come into effect at midnight

Tuesday, April 5, 2011

Pretoria - Motorists are bracing themselves as the massive 54 cents a litre petrol hike comes into effect at midnight tonight.

All grades of petrol will go up as of Wednesday, following on last month's 43 cents a litre increase.

In February, the petrol price rose by 26 cents a litre across all grades with a litre costing R8.99 a litre in Gauteng and R8.75 in the coast. 

Paraffin users will also feel the pinch with the wholesale price of illuminating paraffin set to increase by 48.6 cents and the single maximum national retail price for illuminating paraffin will increase by 59 cents. The maximum retail price for LP Gas will increase by 50 cents.

"The reasons for the fuel price increase are the high crude oil prices, road transport and pipeline tariffs adjustment in line with NERSA and Road Freight Association processes, as well as the fuel levy of 10 cents a litre and RAF of 8 cents a litre as announced by the Minister of Finance in his budget speech in February 2011," said the Department of Energy. - BuaNews

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