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Rand strengthening against dollar ‘cushioned’ petrol price hike

The energy department says the recent development slashed the increase by more than 25cent per litre.

FILE: Officials say increases in international petroleum prices contributed to the adjustments. Picture: EWN.

JOHANNESBURG - The energy department says the rand's recent rally against the US dollar has helped save South Africans from a significant jump in fuel prices this month.

On Wednesday, the price of both 93 and 95 octane petrol will increase by 12 cents per litre, while the price of diesel will drop by between 1 and 2 cents a litre.

Officials say increases in international petroleum prices contributed to the adjustments.

The energy department's Robert Maake says, "We have also noted that petrol increased much higher than diesel mainly because of the high demand for petrol in Europe and in America because they are moving towards their summer season. We have noted that the strengthening of the rand against the dollar cushioned the price by more than 25 cent a litre."

On Friday, the rand extended its gains against dollar to hit a five-month high after a court ruled that a 2009 decision to drop 783 corruption charges against President Jacob Zuma was irrational and should be reviewed.

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