Ongoing feuds between govt entities blamed for petrol increase
Economist Thabi Leoka says a dark cloud around Finance Minister Pravin Gordhan played a major role.
JOHANNESBURG - While the price of petrol is expected to increase on Wednesday, there are concerns that ongoing feuds between government entities negatively affected the currency, which subsequently led to the increase.
The Department of Energy announced yesterday the price of 93 octane will cost 44 cents more per litre while 95 octane will increase by 43 cents a litre.
Diesel will go up by 23 cents a litre and illuminating paraffin will increase by 30 cents a litre.
Economist Thabi Leoka says a dark cloud around Finance Minister Pravin Gordhan played a major role in weakening the rand against the dollar.
"This was caused by the Hawks investigation on Minister Gordhan which saw a weaker currency."