In a blow to motorists ahead of the December holiday break, the Department of Energy announced on Monday that the petrol price for all grades will increase by 71c a litre from Wednesday.

Fuel prices are adjusted monthly according to international and local factors. It is the fifth month in a row the price has increased, in line with rising oil prices and the rand-dollar exchange rate.

The department said in a statement that the energy minister had approved a net increase of 3.9c/l in the annual margin adjustments on petrol and a net increase of 0.7c/l on secondary storage and secondary distribution margins. 

The result will be that a litre of 95 octane petrol will now cost R14.76 inland, and R14.27 at the coast. 

Diesel per litre will increase by 60.30c (0.05% sulphur content) and 57.30c (0.005% sulphur content).

The fuel prices schedule for different zones will be published on on Tuesday, December 5.

The price of wholesale illuminating paraffin will rise by 73.30c and the single maximum national retail price by 98c/l. The maximum LP gas retail price will increase 204c/kg.

Brent crude oil was trading at $62.73 a  barrel in New York on Monday. Brent hit a two-year high of $64.65 a month ago. It has increased about 30% in dollar terms over the past six months.

The rand was trading at R13.62/$ after midday. 

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