The petrol price will increase by 45c a litre to R13.05 next Wednesday, while diesel will rise by 63c a litre, the Department of Energy announced on Friday. Illuminating paraffin will cost 76c a litre more while the maximum retail price for liquefied petroleum gas (LPG) will increase by 59c/kg. Although the rand was firmer against the dollar during the period under review compared with the previous month, oil prices were higher, resulting in the fuel price increases. The average rand/dollar exchange rate for the period September 30 to October 27 was R13.96, against R14 during the previous period. A key factor that contributed to the increase in crude oil prices was the fact that the Organisation of the Petroleum Exporting Countries (Opec) talked publicly about the possibility of production restraint, and the possibility that Russia might follow suit, the Department of Energy said. © BDlive 2016
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