Petrol increases by 7 cents from Wednesday

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JOHANNESBURG, February 1 – The cost of grade 93 and 95 petrol will increase by seven cents per litre from Wednesday, mainly due to increased international oil prices, the energy department said on Friday.

The price of diesel will increase by between one and two cents.

The wholesale price of illuminating paraffin, used by poor South African households for cooking and heating, will be five cents lower per litre.

Fuel prices in South Africa are adjusted each month in line with movements in the rand exchange rate and international oil prices.

“The Rand appreciated against the US Dollar during the period under review, on average, when compared to the previous period,”  the department said.

“The average Rand/US Dollar exchange rate for the period 27 December 2018, to 31 January 2019, was 13.9476 compared to 14.1778 during the previous period. This led to a lower contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 9.24 c/l, 10.85 c/l and 10.97 c/l respectively.” (ANA)