Publications
Partners
Cape Town - The price of petrol will increase by 19c a litre from next Wednesday, the Department of Energy announced on Friday.
The weaker rand against the US dollar and higher oil prices were cited as the main reasons for the increase.
The petrol price increase follows a reprieve of 69c in July and 25c a litre in June.
The Department of Energy said in a statement that the rand's slight depreciation against the US dollar during the period under review led to a higher contribution to the basic fuel price on petrol, diesel and illuminating paraffin.
The price of 93 ULP & LRP petrol will increase by 19c/l and 95 ULP & LRP also by 19c/l.
Diesel will rise by 29c a litre for 0.05% sulphur and 30c a litre for 0.005% sulphur, illuminating paraffin (wholesale) by 26c/l and illuminating paraffin (SMNRP) by 35c/l.
The maximum retail price for LPGAS will increase by 40c/kg.
The Department said the market has been anticipating a return to balance at some point in 2017 and there are signs that this is now happening.
"The current expectations are that the rising crude oil prices will hit a ceiling as higher prices may tempt OPEC members to start producing above the output cuts agreed on last year and reconfirmed in June this year."
SUBSCRIBE FOR FREE UPDATE: Get Fin24's top morning business news and opinions in your inbox.
Read Fin24's top stories trending on Twitter: Fin24’s top stories
