Petrol price to increase by 11 cents per litre

The retail price of petrol will increase by 11 cents per litre from August 7, the Central Energy Fund (CEF) said in a statement.

Both grades of petrol, namely 93 and 95, or ULP and LRP, will increase by the same amount, while diesel 0.05% Sulphur will decrease by 13.29 cents and diesel 0.005% Sulphur will drop by 14.29 cents per litre.

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The Central Energy Fund said the economic factors which contributed to the price adjustments included the rand/dollar exchange rate for the period from 28 June 2019 to 01 August 2019, which was 14.0709 compared to 14.6227 during the previous period. 

"This led to a lower contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 27.59c/l,28.56c/l and 28.89c/l respectively."

The wholesale price for illuminating paraffin will decrease by 2 cents.