Picture: 123RF/SCYTHER5
Picture: 123RF/SCYTHER5

Petrol and diesel prices will increase on Wednesday, tracking rising international prices, which offset the benefits of a firmer rand against the dollar.

The price of 93 octane petrol sold inland will rise 43c a litre and that of 95 petrol will increase by 40c. Diesel prices will rise by between 54c and 55c depending on the sulphur content.

A litre of 93 petrol will retail for R14.69 and 95 petrol will sell for R14.86. A year ago, the retail price of 93 petrol was R15.84 and 95 was R16.16.

“The average international product prices for petrol, diesel and illuminating paraffin increased during the period under review,” the department of mineral resources & energy said on Monday.

Illuminating paraffin will cost 55c a litre more but liquefied petroleum gas will fall by 44c/kg.

“The rand has continued to advance against the US dollar, which is a pleasing outcome considering the severe beating the currency took earlier in [2020]. But even the currency’s ongoing strength has not been enough to contain oil’s march back towards its pre-Covid-19 price levels,” the Automobile Association of SA said.

“While SA fuel prices are well off their record highs, the country’s economy is in a fragile state, and any shocks to international oil prices or the rand-dollar exchange rate could hurt fuel users badly,” it said.

seccombea@businesslive.co.za

subscribe

Would you like to comment on this article or view other readers' comments?
Register (it’s quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.