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'Economic factors resulted in hefty petrol price hike'

The Energy Department has announced that the price of petrol will increase on 1 June.

Picture: Katharyn Williams-Jaftha/EWN.

JOHANNESBURG - The Energy Department says the increase in fuel prices is due to economic factors affecting the national retail price of illuminating paraffin as well as a weaker rand.

Earlier today, it announced that from Wednesday, a litre of petrol will cost 52 cents more for all grades, while diesel is going up by 76 cents.

The department's Robert Maake says, "The reason is the high crude oil prices, which has led to the high price of the petroleum products. This means all the products were highly priced in the market last month."

This is the second petrol price increase in the space of a month, after an increase of 12 cents per litre on 4 May.

Diesel went down by between one and two cents per litre, while illuminating paraffin decreased by nine cents per litre.