Fuel prices a worry for motorists

Dennis TMay 2, 2018

216 1 minute read

Fuel prices a worry for motorists. A litre of 93 octane unleaded petrol (inland) now costs R14.72. This is 23 cents more than the previous record high of R14.49 in December last year. The price of petrol is at an all-time high from Wednesday morning.

Meanwhile‚ diesel has increased by between 58 and 59c per litre‚ while the wholesale price of illuminating paraffin rose by 52c/l.

The maximum retail price of LP gas will rise by 70c/kg.

Last week‚ Minister of Energy Jeff Radebe attributed the increase in the fuel price to the rand’s depreciation on average against the US dollar during the period under review‚ and increases in the international prices of crude oil as well as petroleum products.

The rand depreciated on average from R11.85 to R11.95 against the dollar during the review period.

“The rand’s movements were mainly influenced by global factors. The rand went through a period of volatility in April‚ mainly due to concerns over the China/USA trade tariff dispute that put pressure on the currencies of emerging markets‚ including South Africa‚” Radebe said.

Source: Times Live