Motorists will pay an additional 19 cents a litre for all grades of petrol from next week, the Energy Department announced on Friday.
The department cited a weaker rand and higher oil prices for the increase.
“The rand depreciated slightly, on average, against the US dollar during the period under review. This led to higher contribution to the basic fuel price on petrol, diesel and illuminating paraffin by 11.15c/l, 10.93c/l and 10.88c/l, respectively,” it said in a statement.
“The prices of petroleum products increased, on average, in the international markets in line with the higher crude oil prices. The crude oil prices rose, partly on drawdowns of global inventories including in the closely watched US market.
“The market has been anticipating a return to balance at some point this year and there are signs now that it is 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 late last year and reconfirmed in June this year,” the DoE said.
Diesel will rise by 29 cents and 30 cents a litre for 0.05% sulphur, and 0.005% sulphur respectively, while illuminating paraffin goes up by 35 cents a litre.
Here’s what you can expect to pay in August:
|Fuel||July official||August official|
|0.05% Diesel (wholesale)||R10.98||R11.27|