Fuel price increase - Tough times ahead for consumers

Fuel prices are increasing yet again. The Department of Energy announced last week that petrol will increase by between 43 and 44 cents per litre, while diesel will increase by 23 cents per litre.

The increases are as follows:

• Petrol (93 ULP and LRP) will increase by 44 cents per litre (c/l)
• Petrol (95 ULP and LRP) will increase by 43 c/l
• Diesel (0.05% and 0.005% sulphur) will increase by 23 c/l
• Wholesale price of Illuminating Paraffin will increase by 22 c/l
• SMNRP of Illuminating Paraffin will increase by 30 c/l
• Maximum Retail Price of LPGas will increase by 58 cents per kilogram

According to the Department of Energy, there are a number of reasons for the increase. These include the Rand strengthening against the US Dollar, however, while the Rand strengthened, it was still higher than the average of the pervious review period.

In addition, the Department of Energy noted: “The increase in the prices of petrol, diesel and illuminating paraffin, on average, in the international markets during the period under review. The Basic Fuel Price (BFP) of petrol (95 Octane), diesel and Illuminating paraffin increased by 43 c/l, 23 c/l and 22 c/l respectively, during the same period. These increases were in line with the increase in the price of crude oil.”

But fuel is not the only thing that’s set to go up. Meat prices are expected to go up by 8% between now and the end of the year thanks to the drought.

The new fuel prices

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