Faizel Patel, 2016-04-03
Motorists will have to dig deeper into their pockets ahead of a fuel price increase.
The Energy Department has announced late last night that petrol will increase by 88 cents a litre, diesel by 95 cents and paraffin by 76 cents from midnight on Tuesday this week.
The petrol price will cost R12.62 per litre in Gauteng, and includes a 30 cents a litre rise in the fuel levy announced by Finance Minister Pravin Gordhan in his February budget.
The department says the fuel price hike price could have increased by 10 cents a litre more had the Rand not strengthened against the US Dollar during the period under review which cushioned the price.
Although vehicle owners will have to cope with the enormous increase, the department says that there is no need for panic at this stage because the crude oil price fluctuations are not expected to be excessive if major geopolitical conflicts are excluded.
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