Economy

Petrol price to rise on Wednesday

Petrol price to rise on Wednesday”

The Energy Department confirmed on Monday that petrol, diesel and paraffin will all see a price increase from 4 October. South Africa's fuel prices are adjusted on a monthly basis, informed by worldwide and local factors.

If you weren't feeling it already, get ready for a financial pinch because an increase in the petrol price has been confirmed.

The department said the main reasons for the fuel adjustment was the Rand/Dollar exchange rate. However, the average R/$ exchange for September 2017 was 13.08 compared to 13.21 in August 2017.

Diesel is up by 42 cents, while paraffin will cost 52 cents extra per litre.

"Stronger global oil prices, and a weakening Rand, will combine to drive fuel prices higher at the end of September", it added.

This was in line with higher crude oil prices.

It said that the average worldwide product prices of petrol, diesel and illuminating paraffin increased during the period under review.

This follows increases of 19c and 67c a litre for all grades of petrol in August and September respectively. Send us a WhatsApp message (not an sms) with your name and surname (only) to 060 532 5532.



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