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Petrol price set to increase from Wednesday

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Old 07-01-2014, 11:41 AM   #1
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Thumbs up Petrol price set to increase from Wednesday

The price of petrol will increase from Wednesday, the Department of energy announced on Friday.

There would be a 29 cents increase for 93 unleaded petrol (ULP) and lead replacement petrol (LRP), while 95 ULP and LRP would increase by 31 cents per litre.

Diesel will increase by 14 cents per litre, illuminating paraffin Illuminating paraffin (SMNRP) will increase by 31 cents and liquefied Petroleum Gas (LPG) will increase by 58 cents per kilogram.

According to the department, the increase was due to changes in international factors, such as the crude oil prices, the Rand/ Dollar exchange rate and the prices of finished products.

The Rand depreciated against the US Dollar from $10.40 to $10.68 during the period under review.

“Furthermore, the crude oil price increased on average during the period under review and climbed to their highest level since September last year,” department spokesperson Johannes Mokobane explained.

The crude oil price peaked at above 115 US Dollars per barrel on 19 June 2014, which led to increase in the prices of petrol, diesel, illuminating paraffin and Liquefied Petroleum Gas in the international markets.

The department urged motorists to continue implementing fuel efficiency measures, such as using public transport and utilising lift clubs whenever possible to ensure that they save fuel. -
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