Petrol prices may increase to the highest level since August last year.
On Wednesday, the petrol price will be hiked by R1.71 a litre. The wholesale price of diesel will be increased by a painful R2.84 a litre. According to the Automobile Association , this is a record price increase. A litre of 95 unleaded petrol will now cost R24.54 in Gauteng, the highest level since August 2022. Meanwhile, the wholesale price of diesel in Gauteng will now be R23.05 a litre, a new high for 2023. In July last year, diesel reached a record high of R25.40.
In a statement, the Department of Mineral Resources and Energy said the average Brent crude oil price increased from $79.75 a barrel to $84.78 over the past month due to production cuts by Saudi Arabia.
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