on air now
NOW PLAYING
The Drive With Roland Gaspar
up next
Up Next
Kea Zawadi
on air now
NOW PLAYING
The Drive With Roland Gaspar
up next
Up Next
Kea Zawadi
 

Petrol price hike looms


The price of petrol, diesel, paraffin and liquefied petroleum gas (LPG) will increase next week.

The energy department says the increases will come into effect on Wednesday.

Petrol would go up by 96 cents a litre, diesel by 74 cents, paraffin by 73 cents and LPG by R1.54.
 
The department says the main reason for the fuel price increases is the average increase in the price of crude oil (by about 20 percent) during the period under review.

The other reason is the depreciation of the rand against the US

The department said it believed the price of crude oil would stabilise around the current level and no major price shocks were expected in the near future.

However, another increase is guaranteed at the end of March as finance minister Nanhla Nene this week announced a whopping 80.5 cents a litre increase in the national fuel levy effective one April.