Motorists must brace themselves to dig deeper into their pockets as a fuel increase is expected to come into effect on Wednesday.
The price of both 93 and 95 octane petrol will increase by 37 cents per litre, while diesel will be going up by 71 and 72 cents per litre.
Illuminating paraffin will cost 71 cents per litre more and the price of LP gas decreases by R1.61 per kilogramme.Mineral Resources and Energy Minister Gwede Mantashe announced the fuel adjustment prices on Tuesday citing current local and international factors.
His spokesperson Robert Maake said international factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including importation costs, such as shipping costs.
“The main reasons (include) The average Brent Crude oil price increased from 75.10 US Dollars (USD) to 79.75 USD during the period under review. The increasing demand for crude oil from China and India, and tightening supply due to continued production cuts by Saudi Arabia. Most analysts expect the supply constraints to push the price higher in the next few weeks,” said Maake.
The AA says this was yet another blow for already cash-strapped South Africans.
“As always, we encourage motorists to ensure their vehicles are in good condition and running optimally to use the correct amount of fuel. Planning trips and keeping tyres in a good state are other measures to ensure optimum fuel consumption. Critically, all consumers should be aware of the expected increases, and they should adjust their budgets accordingly to cover these added expenses,” AA said.
Cape Times