Petrol price set to increase on Wednesday

Monday, February 4, 2019

Consumers will have to fork out more at the pumps as the price of petrol is set to increase by 7 cents a litre this week.

The Department of Energy announced fuel hikes of 7 cents a litre for both grades of petrol 93 (ULP and LRP) and 95 (ULP and LRP).

In its statement the department also announced increases for Diesel 0.05% sulphur by 1 cent while Diesel 0.005% sulphur is scheduled to go up by 2 cents.

As of Wednesday, a litre of 95 ULP will cost motorists R14.08 litre, up from the R14.01 in January.

The petrol price hike is the first since December 2018.

Meanwhile, the price of Illuminating Paraffin (wholesale) will decrease by 5 cents in the wholesale price, while the price of Illuminating Paraffin (SMNRP) will decrease by 7 cents.

The Maximum Retail Price for LPGAS will come down by 11 cents a kilogram in the maximum retail price.

“The average international product prices for petrol, diesel and illuminating paraffin increased during the period under review,” said the department.

The Automobile Association (AA) said if international oil prices continue to remain stable, South Africa will see fewer swings in the price of fuel.

“If international oil prices continue their current stable trend, South African fuel users may see fewer of the wild swings in fuel prices which characterised 2018,” said the AA in a statement. –