The fuel price is going up with effect from Wednesday 04 July, the Department of Energy has announced.
The DoE said that the petrol price will increase by 26 cents a litre for 93 octane, with 95 octane fuel up by 23 cents, while diesel (0.05% sulphur) will be hiked 26 cents per litre.
- 93 ULP and LRP – 26 cents per litre increase
- 95 ULP and LRP – 23 cents per litre increase
- Diesel 0.05% Sulphur – 26 cents per litre increase
- Diesel 0.005% Sulphur – 24 cents per litre increase
- Illuminating Paraffin (wholesale) – 22 cents per litre increase
- LP Gas – 37.00 c/kg increase
The department attributed the increase to the rand/US dollar exchange rate, decrease in the prices of crude oil and the import prices of petroleum products.
“The rand’s movements were mainly influenced by global factors. The market has started to become worried about the effect that the trade war between the USA and China will have on the global economy.
“The main reason for the lower crude oil prices is that the Organisation of Petroleum Exporting Countries (OPEC) and its allies agreed to increase production in order to retake market share from rivals and to calm prices to avoid blunting demand growth during their meeting on 22nd June 2018,” said the department.
The fuel prices schedule for the different zones will be published on Tuesday, 03 July 2018.
This is what you can expect to pay:
|Fuel||June official||July official|
|0.05% Diesel (wholesale)||R14.19||R14.45|