NEWCASTLE – Motorists are urged to make it to their nearest fuel station before the price of petrol increases again at midnight on July 5.
The price of fuel of both grades will be increased up to 11 cents per litre, and diesel will go up by between 42 and 43 cents per litre.
A statement by the Department of Energy said that 95 ULP and LRP petrol would go up by eight cents per litre, 93 ULP and LRP by 11 cents per litre. Diesel price increase would be between 41 and 42 cents.
“The strengthening of the rand against the US Dollar during the period under review cushioned the fuel prices by over 17c/l,” mentioned the statement.
The cause of this upcoming hike is due to a higher oil price and a slight increase in the prices of petroleum products in international markets.
According to the statement, oil prices were up mainly due to supply disruptions in Canada, Venezuela‚ Libya‚ Nigeria and Iraq.
On June 1, the pump price of petrol increased by 52 cents per litre for all grades, while diesel increased by 76 cents per litre.
