PETROL and DIESEL prices to increase in January

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The retail price of 93 octane petrol is set to rise by 50 cents a litre and 95 octane by 48 cents a litre on Wednesday 4 January, the energy department announced on Thursday.

According to a statement from the department, the wholesale price of diesel will go up by 39 cents a litre, while the wholesale cost of illuminating paraffin is set to increase by 43 cents a litre.

The Single Maximum National Retail Price (SMNRP) of illuminating paraffin will see a hike of 58 cents a litre.

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Those wanting to buy LP gas will pay R1.06 cents more per kilogram.

The department attributed the increases to an increase in international fuel prices and currency fluctuations.

“The average international product prices of petrol, diesel and illuminating paraffin increased during the period under review,” the statement said.

“The average rand/US Dollar exchange rate for the period December 2-28 2016 was 13.8704 compared with 13.9125 during the previous period.

This led to decreases in the contribution to the basic fuels price on petrol, diesel and illuminating paraffin by 1.82 c/l, 1.75 c/l and 1.76 c/l respectively.

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