Petrol price to spike - again

The Department of Energy on Friday announced another fuel price hike.

Petrol pumps at BP. Picture: Clare Matthes/EWN.

JOHANNESBURG - The Energy Department on Friday announced another fuel price hike, taking the price of 95 octane petrol to over R12 per litre.

The price of 93 octane petrol goes up by 21 cents a litre next Wednesday, while 95 octane will rise by 23 cents.

Diesel will go up by as much as 40 cents per litre.

This follows a hefty hike of 93 cents for petrol and 69 cents for diesel earlier this month.

The price of both grades of petrol have increased by up to R1.59 cents per litre since January.

The price of one litre of 93 octane will be R11.97 at inland pumps and R11.79 at the coast, while 95 octane will be R12.20 inland and R11.85 at the coast.

Meanwhile, economist Mike Schussler says South Africans can expect at least one more petrol price increase before the end of 2012.

Schussler says consecutive increases have already put a strain on motorists.

"We've already seen petrol sales declining in volumes probably because consumers cannot afford it."

Schussler says this is not the last petrol price increase for 2012.

"There's a chance of us still seeing one more increase before the end of year. We'll then go into a little bit of a lull period before it starts rising again."