South Africans will be hit hard at the pumps with petrol and diesel going up by up to 50 cents a litre, the Department of Energy has announced late on Thursday.
The retail price of petrol (93 octane) will increase by 50c/l and that of 95 octane by 48c/l.
The wholesale price of diesel (0.05% sulphur and 0.005% sulphur) will go up by 39c/l and 39c/l respectively, while the wholesale price of illuminating paraffin will rise by 43c/l.
The Department of Energy said the economic factors which impacted fuel prices included an increase in the average international product prices of petrol, diesel and illuminating paraffin
“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 02 December 2016 to 28 December 2016 was 13.8704 compared to 13.9125 during the previous period,” it said in a statement.
The Automobile Association (AA) warned on Thursday morning of a series of fuel price hikes in the new year.
It advised motorists to review their energy use and commuting patterns, and consider alternatives to single-occupant vehicle use, such as car-pooling.
In December the price of both grades of petrol dropped by 20c a litre, while diesel decreased by 32c a litre.
The wholesale price of illuminating paraffin fell by 28c per litre, while the single maximum national retail price of illuminating paraffin (SMNRP) came down by 38c.
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