Its been reported that fuel prices will sky-rocket to its most expensive yet come tomorrow, according to the latest increase announced by the Department of Energy (DoE).
Both grades of petrol, 93 and 95 (ULP & LRP), will increase by 99 cents and 100 cents a litre (c/l) respectively from midnight today. This brings the overall retail price of 95 ULP for motorists in Gauteng to E17.08 c/l and E16.49 c/l at the Coast.
Diesel 0.05% sulphur and diesel 0.005% sulphur will both increase by 124c a litre. Illuminating paraffin (wholesale) will go up by 104c while illuminating paraffin (SMNRP) will cost 139c more per litre.
The maximum retail price for LPGAS will spike by 179c per kilogram. The department has attributed the rising fuel price to the weakening rand exchange rate. “The average rand/US dollar exchange rate for the period 31 August 2018 to 27 September 2018 was 14.7899 compared to 13.9430 during the previous period.
“This led to a higher contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 48.72c/l, 51.03c/l and 50.62 c/l respectively,” the DoE said. We will recall that, should South Africa be affected we also feel the pinch.