Loading...

Another petrol price blow for motorists

Jul 03 2016 16:11

Cape Town - The retail price of both grades of petrol will increase by up to 11 cents per litre at midnight on Tuesday, while diesel will go up by up to 42c/l, the department of energy announced.

It said in a statement on Sunday that 95 ULP and LRP petrol will increase by 8c/l, while 93 ULP and LRP will go up by 11c/l. Diesel increases by between 41 and 42 cents.

The wholesale price of illuminating paraffin will increase by 43c/l, while the single maximum national retail price will increase by 57c/l.

The maximum retail price of LP gas will also go up by 12 cents per kilogram.

A higher oil price and a slight increase in the prices of petroleum products in international markets were the main reasons behind the fuel price increases.

“The strengthening of the rand against the US Dollar during the period under review ... cushioned the fuel prices by over 17c/l‚” the department said.

Motorists have endured a series of petrol price hikes since the year started.

Last month the pump price of petrol increased by 52 c/l for all grades, while diesel went by a whopping 76c/l.

The Automobile Association (AA) warned that ongoing market volatility posed a risk to fuel prices.

"We expect further volatility in the short to medium term as world markets continue to digest the consequences of the UK's referendum to leave Europe. This means that any additional political or economic shocks are likely to have a strong impact on South African fuel users," it said in a statement on Friday.

Share your fuel saving tips with Fin24 users.

Read: 18 petrol saving tips to help slash your fuel bill

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest. 24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

petrol  |  petrol price hikes

NEXT ON FIN24X

 
 
 
 

Company Snapshot

We're Talking About...

Savings Month

It's never too late to start saving. Visit our special issue and add your voice.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Social media is giving SA consumers the power to discipline corporations corporations

Previous results · Suggest a vote

Loading...