News Agencies Feed :

Fuel prices to go up in South Africa this week

05 Mar 2019

Johannesburg, South Africa (ADV) – South Africa’s Department of Energy earlier on announced that fuel will be hiked by 74 cents a litre for both grades of petrol 93 (ULP and LRP) and 95 (ULP and LRP) a day after tomorrow, African Daily Voice can confirm.

This is the second hike in the petrol price since December 2018.

“As of Wednesday, a litre of 95 ULP will now cost motorists in Gauteng R14.82, up from the R14.08 a litre in February,” reads a statement issued by the Department.

“For Diesel 0.05% sulphur by 91 cent, while Diesel 0.005% sulphur is scheduled to go up by 93 cents a litre.”

The Department further stated that the price of Illuminating Paraffin (wholesale) will increase by 76 cents in the wholesale price, while the price of Illuminating Paraffin (SMNRP) will increase by R1.02 cents.

The Maximum Retail Price for LPGAS will go up by R1.01 cents a kilogram.

The average international product prices for petrol, diesel and illuminating paraffin increased during the period under review.

Crude oil increases were also responsible for the price hike.

“The current fuel price adjustments are due mainly to international factors, namely, the increase in crude oil prices.

“As had been predicted last year, OPEC [Organization of the Petroleum Exporting Countries] is determined to support higher crude oil prices by reducing production. They are achieving their objective due to the support by other non-OPEC producers,” said the department.

africandailyvoice

Stock Market

Index

Value

Change

Open

MADEX

9 209,87

0,82 %

9 135,23

MASI

11 329,76

0,81 %

11 238,86

FTSE CSE

10 269,41

0,50 %

10 218,62

Contact US | Powered by CNPHUB.com - All Rights Reserved