SA fuel prices to rise sharply, petrol to jump by 6.2 percent

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JOHANNESBURG, October 1 – South Africa Africa’s fuel prices will rise sharply on October 3, with petrol going up by as much as R1, or 6.2 percent a litre, the energy department said on Monday.

The 95 grade of petrol will now cost a record high of R17.08 in the inland economic hub of Gauteng province and R16.49 at the coast, while the wholesale diesel price will rise by R1.24  to R15.64 and R15.16 in Gauteng and at the coast respectively.

The wholesale price of illuminating paraffin, used by millions of poor South Africans for cooking, will jump by R1.04 per litre.

South Africa adjusts the price of fuel every month to take into account global oil prices and the rand exchange rate.

“The average international product prices of petrol, diesel and illuminating paraffin increased during the period under review,” the energy department said.

“The rand depreciated against the US Dollar during the period under review, on average ,when compared to the previous period.”

In September the department of Energy decided to cap the fuel increase at only five cents per litre  — against a projected 20 cents — to cushion consumers feeling the impact of an economy currently in recession. (ANA)