Motorists will have to dig deeper into their pockets to top off their petrol tanks with effect from Wednesday.
The Department of Energy has announced the costs both grades of petrol, 95 and 93 (ULP and LRP), will increase by 49 cents.
A litre of 95 ULP petroleum in Gauteng will go up from the current R14.48 a litre to R14.97 a litre. The cost of 93 octanes unleaded petroleum will rise from R14.23 to R14.72 a litre.
The department reported in April the costs of 95 ULP will go up by 72 cents a litre. This drove the cost of a litre of 95ULP in Gauteng from R13.76 to R14.48 cents.
“The Rand experienced a time of instability in April, primarily because of worries over the China/USA exchange duty question that put weight on the monetary standards of developing markets, including South Africa, “the department said.
The petrol hike was also due to the increase in the costs of unrefined oil amid the period under review. What’s more, the import costs of oil-based commodities expanded by and large amid the period under review. This was in accordance with the higher unrefined petroleum costs.
The department said the cost of Diesel (0.05% Sulfur) will go up by 59 cents a litre and the cost of Diesel (0.005% Sulfur) will increase by 58 cents, while the discount cost of Illuminating Paraffin (Wholesale) will rise by 52 cents.
Illuminating Paraffin (SMNRP) will increase by 69 cents, while the Maximum Retail Price for LPGAS will go up by 70 cents for each kilogram.
The fundamental purposes behind the fuel value changes are because of the way that the Rand devalued, all things considered, against the US Dollar amid the period under review. The Department of Energy said the Rand’s developments were predominantly impacted by worldwide components.