The petrol price will increase by six cents a litre on Wednesday next week, the Department of Energy has announced.
The price of diesel however, will decrease by 62 cents a litre – a result of oversupply, while the price of paraffin will drop by 79 cents.
The price of oil continues to trade a record lows – causing the World Bank to cut its oil price forecast to $37 a barrel, from $52 three months ago.
A soft rand however, means very little of that is passed on to the South African consumer.
The local currency has shown signs of recovery in recent sessions – dipping below R16 rand and extending its post-rate hike rally.
It was priced at R15.94 against the dollar, down from a worst level of R17.995 in December.
Here are the current inland prices for petrol and diesel:
- 93 LRP – R12.09
- 95 LRP – R12.37
- Diesel 0.05% Sulphur – R10.05
- Diesel 0.005% Sulphur – R10.10
More on fuel prices