South Africans Face Petrol Price Hike in May (This Week!)

South African consumers will have to dig even deeper into their pockets as both grades of petrol are set to increase by 54 cents a litre this week.

The Department of Energy on Sunday announced that the price of both grades of petrol, 95 and 93 (ULP and LRP), will increase by 54 cents.

This will see a litre of 95 ULP petrol in Gauteng rise from the current R16.13 a litre to R16.67 a litre.

The price of Diesel (0.05% Sulphur) will rise by 1 cent a litre and the price of Diesel (0.005% Sulphur) will remain unchanged.

The wholesale price of Illuminating Paraffin (Wholesale) will rise by 3 cents while Illuminating Paraffin (SMNRP) will increase by 4 cents.

The Maximum Retail Price for LPGAS will increase by 84 cents per kilogram.

The price increases will come into effect on Wednesday.

The main reasons for the fuel price adjustments are due to the fact that average international product prices for petrol, diesel and illuminating paraffin increased during the period under review.

“The Rand appreciated against the US Dollar during the period under review, on average, when compared to the previous period. The average Rand/US Dollar exchange rate for the period 29 March 2019 to 25 April 2019 was 14.1401 compared to 14.3871 during the previous period.

“This led to a lower contribution to the Basic Fuel Prices on petrol, diesel, and illuminating paraffin by 13.31 cents a litre,13.56 cents a litre and 13.49 cents a litre respectively,” said the department.

Source: SAnews.gov.za