Petrol price sees massive increase

The retail price of all grades of petrol will increase by 41 cents per litre (c/l) on Wednesday February 6‚ the Department of Energy announced on Friday.

All grades of diesel will cost 17.8c/l more.

During the period under review‚ the average international product prices of petrol‚ diesel and illuminating paraffin all increased.

The average rand/dollar exchange rate weakened when compared to the previous period. The average rand/dollar exchange rate for the period December 27 to January 31 was R8.7629 compared to R8.6833 during the previous period.

The weakening rand against the US dollar increased the contribution to the basic fuels price on petrol‚ diesel and illuminating paraffin by 6.4c/l‚ 6.69c/l‚ and 6.74c/l respectively.

The department announced that the cumulative slate balance for petrol and diesel at the end of December amounted to R600 million. In line with the self-adjusting slate levy mechanism rules‚ the slate levy on petrol and diesel will therefore decrease from 8.78c/l to 6.58c/l with effect from February 6.

Petrol 95 ULP octane in Gauteng will now cost R12.27 a litre‚ while at the coast it will cost R11.92 per litre.

The single maximum national retail price for illuminating paraffin will increase by 34c/l.

The maximum retail price for liquid petroleum gas will increase by 73 cents per kilogram.

More on South Africa’s petrol prices

Petrol price set to rise in February

Petrol price cut set for December

Petrol price to decrease in November

Petrol prices to increase in October

Fuel prices: where does the money go?

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Petrol price sees massive increase