Fuel price increases from Wednesday
Motorists are reminded they will be paying an additional 19 cents a litre for all grades of petrol from Wednesday.
This is according to the the Energy Department.
The 95 and 93 Octane ULP and LRP will increase by 19 cents per litre, diesel will increase by 29 cents, while diesel (0.005% sulphur) increases by 30 cents per litre.
The department cited a weaker rand and higher oil prices for the increase.
The department said 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.
“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 department said.
The department added that 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.
Illuminating paraffin (wholesale) will increase by 26 cents per litre, SMNRP for IP by 35 cents per litre, and maximum retail price for LPGas will increase by 40 cents per kg.
The fuel pricing schedule for the different zones will be published on 1 August 2017.
