Crippled rand causes petrol price increase
Johannesburg - The price of petrol is expected to increase on Wednesday by 6c/litre while all grades of diesel are expected to drop by 62c/litre.
The Department of Energy made the statement on Friday, saying international and local factors played a role in the price adjustment.
The department said an oversupply of diesel contributed to the fuel's decrease in price. "... the Northern Hemisphere experienced mild winter season compared to previous periods [and] China contributed to the situation by exporting diesel into the market."
The increased price at the petrol pump was "massively" due to the weakening rand against the dollar, said the department said. "On the other hand, the increase in the petrol price is mainly due to tightness in the market because some major refineries in the USA were on unplanned shutdown."
Here is a list of the product and pricing structure ahead of Wednesday's increase.
1. Petrol (93 & 95 Octane) will increase by 6.00 cents/litre
2. Diesel (0.05% Sulphur) will decrease by 62.00 cents/ litre.
3. Diesel (0.005% Sulphur) will decrease by 63.00 cents/ litre
4. Illuminating paraffin (SMNRP) will decrease by 79.00 cents/litre.
5. Illuminating paraffin (wholesale) will decrease by 59.00 cents/litre.
6. Liquefied Petroleum Gas (LPG) will increase by 1.00 cents/kilogram.