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Dept: Weaker rand & high crude oil prices to blame for petrol price hike

Both grades of petrol will increase by 99 cents and R1 per litre respectively while diesel will diesel will set you back R1,24 cents.

Petrol station. Picture: EWN

JOHANNESBURG - Motorists are digesting the latest fuel price shock which will bring costs at the pumps to a record high.

Both grades of petrol will increase by 99 cents and R1 per litre respectively while diesel will diesel will set you back R1,24 cents.

From Wednesday motorists will have to fork out R1,79 cents more for LP gas while illuminating paraffin is going up by R1,4.

Despite government's intervention which saw petrol and diesel increase by only 5 cents per litre last month, Monday’s announcement offers very little relief.

Government injected R500 million to avoid an expected increase of R1,25 cents per litre of petrol, but there were warnings that the situation would be different this month.

The Energy Department's Robert Maake explains what drove the hikes.

“The weaker rand against the Dollar and the high crude oil prices during the period under review.”

Opposition parties have blamed the African National Congress, saying the party has mismanaged public funds, sold off strategic oil stock and increased petrol price levies to fill government's revenue hole.

(Edited by Thapelo Lekabe)