Faizel Patel, Radio Islam News – 01-10-2018
Motorists will have to dig much deeper into their pockets after the Energy Department announced that the price of petrol will soar to a record high and increase by 99 cents a litre from Wednesday.
The price of diesel will increase by a whopping R 1.24/l while Illuminating Paraffin goes up by R 1.04/l
LP Gas will also cost R 1.79 more per kg.
The department says the current fuel price adjustments are due mainly to the international factors including the weaker Rand and higher crude oil prices.
It says the average Brent Crude oil price increased from 74.25USD to 78.25USD per barrel during the period under review while the Rand depreciated, on average, against the US Dollar (from 13.90 to 14.90 Rand per USD).
“The main contributing factors were the unwillingness by Organisation of Petroleum Exporting Countries (OPEC) to increase their production outputs and the negative impact of the hurricanes on petroleum infrastructure in the USA during the period under review. Furthermore, the looming sanctions against Iran oil exports by the USA will put more pressure on the crude oil prices.”
The fuel prices schedule for the different zones will be published on Tuesday, 02 October 2018.
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