TimesLive reports that motorists will be hit with major fuel price hikes on Wednesday, with petrol going up 53c/l and diesel by up to 80c. Illuminating paraffin will rise by 101c/l.
The Department of Mineral Resources and Energy reported that increased crude oil prices and a negative slate levy balance of R3.49bn necessitated the price hikes. The 53c price increase applies to both grades of petrol, with 93 unleaded rising to R19.89/l and 95 unleaded increasing to R20.14/l in Gauteng. In Gauteng the wholesale price of high 500 ppm diesel rises to R18.05, while 50 ppm low-sulphur diesel increases to R18.07. Illuminating paraffin will be R11.98/l from Wednesday. Fuel prices, which are changed on the first Wednesday of every month, peaked in December when petrol hit more than R20 for the first time. Motorists received a short-lived reprieve in January when petrol dropped up to 71c and diesel up to 69.80c/l. When the new prices take hold at midnight on Tuesday, petrol will be more than 28% higher and diesel around 33% higher compared to February 2021.
- Read the full original of the report in the above regard by Denis Droppa at TimesLive
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