Expect pockets to tighten as petrol price increases
JOBURG – The public can expect yet another hike in petrol prices next week.
According to a report by Times Live, the increase would come into effect on Wednesday, 4 March.
“The main reason for the fuel price increases is the average increase in the price of crude oil during the period under review in comparison to the previous period,” the Energy Department said in a statement.
Petrol will go up by 96 cents, diesel by 74 cents, paraffin by 73 cents and LPG by R1.54.
The department confirmed that the depreciation of the rand against the US dollar has further exacerbated the situation.
The slate levy on petrol and diesel would, however, remain unchanged at zero percent per litre.
The department said it believed the price of crude oil would stabilise around the current level, and that no major price shocks were expected in the near future.
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