MOTORISTS should prepare themselves, as the Energy Department announced last Friday that the fuel price is set to increase at midnight tonight.
The price of petrol will increase by 47 cents a litre and diesel goes up by 46 or 49 cents, depending on the grade. Illuminating paraffin increases by 56 cents per litre and gas by R1 per kilogram.
In the media statement, the Energy Department stated that South Africa’s fuel prices are adjusted on a monthly basis and are informed by international and local factors.
“International factors include the fact that South Africa imports both crude oil and finished products at a price set by the global markets, including shipping costs. The main reason for the fuel price increase is the high crude oil prices, which resulted in higher prices (on average) for all the petroleum products in the international markets in May compared to April,” they said.
