SA Fuel Prices Reach All-Time High

South Africa’s fuel is set to skyrocket on Wednesday after the Department of Energy announced the latest increase. SA Fuel Prices Reach All...

South Africa’s fuel is set to skyrocket on Wednesday after the Department of Energy announced the latest increase.

From midnight on Tuesday, the two grades of petrol will go up by 99 cents and 100 cents per litre bringing the retail price to R17, 08 per litre and R16, 49 per litre. Diesel will increase by R1, 24 a litre while paraffin will go up by R1, 04 and R1, 39. Liquefied petroleum gas (LPG) will also go up by R1,79.

The Department of Energy blamed the increase in prices on the weakening South African Rand saying,

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.

In a statement, the Automobile Association (AA) said,

They are the biggest in South African history. The major culprit is South Africa’s chaotic economic policy‚ which has left us defenceless against upticks in international oil prices.

More: TimesLive

Disclaimer: The information contained in this website is for general information purposes only.

The information is provided by Gossip Maestro using online sources and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose.

Any reliance you place on such information is therefore strictly at your own risk.

- Advertisement -