JOHANNESBURG – South African motorists are set to feel the pinch, as the petrol price will skyrocket to its highest.
The Energy Department announced that the price of petrol 93 Octane will increase by 99 cents a litre while 95 Octane will increase by litre R1.
Diesel will increase by R1.24 and illuminating paraffin (wholesale) will increase by R1.04.
The Energy Department says the main reasons for the fuel price adjustments are due to the Rand/US Dollar exchange rate.
“The Rand depreciated, on average, against the US Dollar (from 13.90 to 14.90 Rand per USD) during the period under review when compared to the previous one,” the Department said in a statement.
“This led to a higher contribution to the Basic Fuel Prices (BFP) on petrol by about 50.00c/l and diesel and illuminating paraffin by about 52.00c/l.”
The fuel prices for October 2018 will be adjusted as follows:
Petrol (93 Octane, ULP and LRP): 99 cents per litre increase;
Petrol (95 Octane, ULP and LRP): R1 per litre increase;
Diesel (0.05% sulphur): R1.24 cents per litre increase;
Diesel (0.005% sulphur): R1.24 cents per litre increase;
Illuminating Paraffin (wholesale): R1.04 per litre increase;
SMNRP for IP: R1.39 per litre increase;
Maximum LPGas Retail Price: R1.79 per kg increase