By: Natasha Archary
Motorists will have to bite down hard to survive a massive R2.37/litre petrol increase which comes into effect at midnight.
Minister of Mineral Resources and Energy, Mr Gwede Mantashe, announced the latest increase for July on Monday, 04 July.
This as Gauteng residents are still digesting news that City Power is hiking electricity tariffs by 7.4% for July.
The latest fuel increase takes the price of 95 octane petrol up to R26.74/litre.
With motorists already buckling under last month’s fuel price increase, this latest hike is going to have a disastrous knock-on effect on the cost of living.
Citing a number of international and local factors for the reason of the July hike in fuel, Mantashe said as a short-term relief measure, he will hold a discussion with the Finance Minister, to implement the price structures of petrol and diesel during this period until the 3rd of August 2022.
Minister of Mineral Resources and Energy, Mr Gwede Mantashe, announces the adjustment of fuel prices based on current local and international factors with effect from the 6th of July 2022.
Based on current local and international factors, the fuel prices for July 2022 will be adjusted as follows:
- Petrol (both 93 ULP and LRP): two hundred and thirty seven cents per litre (237.00 c/l) increase;
- Petrol (both 95 ULP and LRP): two hundred and fifty seven cents per litre (257.00 c/l) increase;
- Diesel (0.05% sulphur): two hundred and thirty one cents per litre (231.00 c/l) increase;
- Diesel (0.005% sulphur): two hundred and thirty cents per litre (230.00 c/l) increase;
- Illuminating Paraffin (wholesale): one hundred and sixty six cents per litre (166.00 c/l) increase;
- SMNRP for IP: two hundred and twenty one cents per litre (221.00 c/l) increase;
- Maximum LPGas Retail Price: two hundred and eighteen cents per kilogram (218.00 c/kg) decrease; and
The fuel prices schedule for the different zones will be published on Tuesday, the 5th of July 2022.
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