Kaya News Reporter
South African motorists will have to fork up at the pumps as the price of petrol and diesel to set to soar at midnight on Wednesday.
The Department of Mineral Resources and Energy, made the announcement on Monday.
According to the Department, the main reasons for the fuel price adjustments are due to:
- an increase in Crude Oil prices from $76 to $87
- international petroleum product prices
- Rand/Dollar exchange rate
The Rand appreciated slightly, on average, against the US Dollar (from 15.92 to 15.51)
- implementation of the Slate Levy
Recovery on the cost of Crude Oil is lagging due to travel adjustments amid the Omicron variant surge.
There are also mounting tension between Russia and Ukraine which has affected Crude Oil costs negatively, due to the area being a crucial oil and gas hub.
The price of both 93 and 95 Unleaded petrol will go up by 53c/l, while diesel will cost an additional 80c/l.
This will mean the price of fuel inland will amount to R19,89/l for 93 Unleaded and R20.14/l for 95 Unleaded.
Coastal cities will come in a little cheaper at R19.42/l for 95 Unleaded.
The price of illuminating paraffin will also go up by R1,01/l.
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