Petrol price set to increase

Friday, March 1, 2013

Pretoria - The price of all grades of petrol is to go up by 81 cents as of next week, the Energy Department announced on Friday.

As of next Wednesday, a litre of petrol will cost motorists in Gauteng R 13.08, while it will cost R12.73 at the coast.

The latest fuel hike follows on the February rise of 41 cents a litre.

A litre of Diesel 0.05% Sulphur and Diesel 0.005% Sulphur will both rise by 58.3 cents.

Illuminating paraffin wholesale will increase by 57 cents and Illuminating Paraffin (Single Maximum National Retail price) is to increase by 76 cents. The Maximum Retail Price for LPGAS will rise by 118 cents per kilogram.

During the period under review, the average international product prices of petrol, diesel and illuminating paraffin increased.

“The average Rand/US dollar exchange rate weakened when compared to the previous period.

“The weakening of the rand against the US dollar increased the contribution of the basic fuels price on petrol, diesel and illuminating paraffin by 12.6cents a litre and 12.8 cents a litre respectively,” said the Energy Department.

In his Budget Speech this week, Finance Minister Pravin Gordhan said that there will be an increase in fuel costs in April. This, said the minster, included an increase in the general fuel levy of 15 cents a litre and eight cents a litre for the Road Accident Fund (RAF). -