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South African motorists are in for another steep fuel price hike on Wednesday, driven mainly by the Russian Ukraine conflict.
The Department of Energy said the price of 93 and 95 Octane petrol will go up by 28c and 36c a litre respectively.
Department spokesperson, Robert Maake, said that both grades of Diesel will increase by R1.52 and R1.68 a litre, with illuminating paraffin slated to rise by R3.55 at the retail level.
He said LP Gas goes by R2.50 per kilogram.
Maake said the main reasons for these increases were higher oil prices which lead to higher prices for petroleum products caused by the Russia Ukraine conflict.
He said other factors were “demand concerns in China due to the lockdown”, and the recent attack by Yemeni rebels on fuel facilities in Saudi Arabia.
Maake said the stronger Rand against the US Dollar had also cushioned the prices by between 17 and 19 cents a litre, while the government’s slate levy had increased by 6.56 cents a litre.
“We have seen that the government had intervened and reduced the fuel levy by R1.50 cents a litre over a period of two months, hence the fuel price adjustment,” he said.
