The South African Department of Mineral Resources and Energy, DMRE, has announced plans to hike the price of petrol on Wednesday, March 3.
The increase will be the third fuel price hike in this year alone.
The price is going to be set to an additional 65 cents a litre, the prices of 93 (ULP and LRP) and 95 (ULP and LRP) will rise by 65 cents a litre.
In a statement issued on Tuesday, the DMRE said a litre of 95 ULP in Gauteng, which currently costs R15.67, will increase to R16.32 a litre.
The price of other petrol products is also set to increase, diesel (0.05% Sulphur) will increase by 54 cents a litre, while the price of diesel (0.005% Sulphur) will increase by 56 cents a litre.
The price of illuminating paraffin (wholesale) will increase by 47 cents.
The price of illuminating paraffin (SMNRP) will increase by 63 cents, while the Maximum Retail Price for LPGAS will increase by 87 cents per kilogram.
The department explained that “the rand appreciated, on average, against the US dollar during the period under review, when compared to the previous one. This led to lower contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by around 14 cents a litre.”
