Fuel hike looms

Motorists can expected a fuel hike in July. The petrol price will increase by 29 and 31 cents per litre from 2 July, the Department of Energy announced.

The department’s spokesperson, Johannes Mokobane said 93 unleaded (ULP) and lead replacement petrol (LRP) would increase by 29 cents a litre and 95 ULP and LRP would see an increase of 31 cents a litre.

Diesel would spike by 14 cents per litre, while illuminating paraffin would rise by 31 cents and LPG by 58 cents a kilogram.

“The increase in the prices of all the petroleum products is due to changes in international factors, namely crude oil prices, the rand/dollar exchange rate and the prices of finished products,” said Mokobane.

He added that the rand depreciated from US10.40 to US10.68 during the period under review.

“Furthermore, the crude oil price increased on average during the period under review and climbed to the highest level since September last year.”

The price of crude oil peaked at more than US115 per barrel on 19 June.

The petrol and diesel prices decreased by 22 cents a litre and between 24 and 25 cents a litre respectively in June.

South Africa’s fuel prices were adjusted on a monthly basis, informed by international and local factors.