4 February 2014

South Africa: Petrol Price Hike

Cash-strapped consumers will have to dig deeper into their pockets as the fuel price goes up at midnight tonight.

All grades of petrol are due to increase by 39 cents a litre, said the Department of Energy.

A litre of 95 ULP will cost R13.96 a litre in Gauteng, the highest price motorists have paid and R13.59 in the coast.

The price of diesel (0.05% sulphur) and diesel (0.005% sulphur) will go up by 24.2 cents a litre respectively. Illuminating paraffin wholesale will go up by 12 cents a litre while that of illuminating paraffin (Single Maximum National Retail price) will go up by 16 cents a litre.

The Maximum Retail Price for LPGAS will increase by 54 cents per kilogram. "The average international product prices of petrol slightly increased whilst diesel and illuminating paraffin decreased during the period under review. The average Rand/US Dollar exchange rate weakened when compared to the previous period," said the department.

The Reserve Bank at its first Monetary Policy Committee meeting warned of a steep petrol hike in February.

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