Energy Dept confirms big petrol price hike for May
Motorists will pay an extra 49c per litre for petrol next month, the Department of Energy has confirmed.
CAPE TOWN - Motorists will pay an extra 49c per litre for all grades of petrol next month, the Department of Energy has confirmed.
Diesel will increase by between 30c and 32c per liter.
Illuminating paraffin users will pay between 34c and 46c per litre while liquefied petroleum gas users will pay an extra 96c per kilogram.
The department said that the reason for the increase was the depreciation of the rand against the US dollar.
"The average international product prices of petrol, diesel and illuminating paraffin increased during the period under review," the department said in a statement.
"The rand depreciated against the US dollar during the period under review, on average, when compared to the previous period. The average rand/US dollar exchange rate for the period 31 March 2017 to 25 April 2017 was R13.5105 compared to R12.9148 during the previous period. This led to a higher contribution to the basic fuels price on petrol, diesel and illuminating paraffin by 26.83c/l, 25.48c/l and 25.33c/l respectively."
The department's Robert Maake says: “It is also the price of petroleum product in the international market, which increased in line with the increase of the price of crude oil.”
The increases are effective as of 3 May.