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Fuel price to rise next week


The Department of Energy says the price of fuel will increase next Wednesday.

The price of 93 octane petrol will increase by 21c a litre while 95 octane fuel will go up by 23 cents.

All grades of diesel will increase by 39 and 40 cents a litre respectively.

Paraffin will increase by 33 and 44 cents a litre.

The energy department also said that Self-Adjusting Slate Levy of 13.16 cents a litre will be implemented into the price structures of petrol and diesel with effect from 03 October 2012 as per legislation.

The reason for this is that the Slate Account balance of the oil industry amounted to a combined petrol and diesel negative balance of R134b rand at the end of August.

"This is a levy, which is used to recover the monies owed to oil companies due to the time delay in the adjustment of the petrol pump price. It is adjusted on monthly basis, in line with the self-adjusting slate mechanism, depending on the funds in the slate account," the Department said.