Fuel price to rise next week

South African motorists have been hit by several petrol hikes since the beginning of the year, with another scheduled for next Wednesday.

The department of energy has confirmed that the price of petrol will increase by 49c per litre next month.

The department said this was due to the international product prices of petrol increasing during the recent period, as well as the rand having depreciated against the US dollar.

The statement, released on Wednesday, said the price of diesel and illuminating paraffin would also increase next week.

The department added this would likely add to inflationary pressures and could hit consumers’ pockets hard.

In January, motorists were welcomed into the New Year with a hike of 50 cents per litre on fuel.

There were other hikes in February and March. There was also a petrol price decrease between the hikes.

At the time, business owners warned the hike would certainly have a negative impact on motorists, especially the poor.

In January, the department of energy cautioned consumers about an increase in the price of petrol (93 ULP and LRP) by 50 cents a litre, 95 ULP and LRP by 48 cents a litre, diesel (0.05% sulphur) by 39 cents per litre, diesel (0.005% sulphur) by 37 cents per litre, wholesale price of illuminating paraffin by 43 cents per litre and single maximum national retail price of illuminating paraffin by 58 cents per litre.

Buyani Zwane of Breakthrough Development said the increases would certainly have a negative impact on the poor because when the fuel price increased, transport costs and the price of bread and mealie meal also went up.

Chris Machingura of Machingura Attorneys said the increase in January was “100% bad” and believed the department of energy should consider contributing 40 cents for consumers and allow them to only pay 10 cents per litre more while buying petrol.

Machingura felt the increase was way too much, saying consumers were already stressed financially because last year was not a good year.

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