MOTORISTS will have to dig even deeper into their pockets as the price of petrol is set to rise next week. The Department of Energy on Thursday announced that the price of both grades of petrol, 95 and 93 (ULP and LRP), will increase by 49 cents.
The price of Diesel (0.05 per cent Sulphur) will rise by 59 cents a litre and the price of Diesel (0.005 per cent Sulphur) will increase by 58 cents, while the wholesale price of Illuminating Paraffin (wholesale) will rise by 52 cents.
The price increases will come into effect on Wednesday (2 May).
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Illuminating Paraffin (SMNRP) will increase by 69 cents, while the Maximum Retail Price for LPGAS will increase by 70 cents per kilogram.
The main reasons for the fuel price adjustments are due to the fact that the Rand depreciated, on average, against the US Dollar during the period under review. The Department of Energy said the Rand’s movements were mainly influenced by global factors.
“The Rand went through a period of volatility in April, mainly due to concerns over the China/USA trade tariff dispute that put pressure on the currencies of emerging markets, including South Africa,” said the department in a statement.
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