Fuel hike this week
Motorists are bracing themselves for a hike in the fuel price this week.
JUST when you thought it was safe to fill up the tank comes the news that the price of all grades of petrol and diesel will be upped on Wednesday, 5 October 2016.
The bad news for motorists comes from the Department of Energy who explained that the price increase comes in the wake of current local and international factors. The price of petrol (93 ULP and LRP) will rise by 44 cents per litre; petrol (95 ULP and LRP) will be hiked by 43 cents per litre and diesel will increase by 23 cents per litre.
According to the department, the primary reason for the fuel price hike is due to the contribution of the Rand/US Dollar exchange rate as well as the increases in the prices of petrol, diesel and illuminating paraffin in the international markets during the period under review.
The increase in the prices of crude oil during the period under review also played a contributing factor to the increase.
