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Price of petrol, diesel set to increase in South Africa

Cash-strapped South Africans will wake up on Wednesday 3 April 2013 confronting another harsh reality: the increase of petrol and diesel price, an adjustment the Department of Energy says is due to crude oil prices, international product prices, rand-dollar exchange rate, adjustment to the slate levy on petrol and diesel, and the fuel levy and Road Accident Fund increases.

This is how the increase will look like:

  • 12 cents increase for a litre of 95’ grades petrol
  • 10 cents increase for a litre of 93’ grades petrol
  • 9.06 cents increase for a litre of diesel (0.05 sulphur)
  • 10.06 cents increase for a litre of diesel (0.005 sulphur)

The department says in a statement that the rand-dollar exchange rate deteriorated and peaked at R9.24 per USD on 14 March 2013.

“The turmoil in the Eurozone, particularly exacerbated by the fear that bank deposits could be seized in Cyprus which has accelerated the flocking of investors from other currencies to the relative safe haven of the US Dollar, is cited as one of the reasons that contributed to the weaker rand,” spokesperson Maropeng Ramokgobathi says.

However, it remains unclear whether taxi associations will also increase taxi fares in line with the state’s petrol and diesel increase.

*Photo by THAPELO MOTSUMI (courtesy of Timeslive)

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