South Africans are set for another knock to their pockets, with big petrol price increases kicking in from Wednesday.
According to the minerals and energy department, the price of petrol will go up R1.21/l, diesel by R1.48/l, iThis means that the petrol price moves closer to the R20/l mark.“SA’s fuel prices are adjusted on a monthly basis, informed by international and local factors. International factors include the fact that SA imports both crude oil and finished products at a price set at the international level, including importation costs, for example, shipping costs,” he said in a statement.
— International petroleum product prices, with the movement in international refined petroleum product prices following the increasing trend in crude oil prices; and — The rand/US dollar exchange rate, with the rand depreciating, on average, against the dollar from R14.56/$1 to R14.72/$1 during the period.
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