Motorists and commuters will not be getting any relief this month, as yet another petrol hike is expected due to a weaker rand and rising oil prices.
The department of energy has released its petrol prices for June, and motorists can expect an increase in petrol prices because of a number of factors.
The department confirmed that the price of petrol has been increased by 82 cents a litre for 95 and 93 ULP and between 85 and 87 cents a litre for both grades of diesel, Randburg Sun reports.
Illuminating paraffin is going up by 82 cents a litre, the department said.
Some of the reasons for the increase include:
1. The contribution of the rand/US dollar exchange rate
The rand depreciated, on average, against the US dollar (from 11.99 to 12.51 rand per USD) during the period under review. The rand’s movements were mainly influenced by global factors.
2. The increase in the prices of crude oil
The average brent crude oil price increased from 70.88USD to 77.00USD per barrel during the period under review. The main reason for the higher crude oil prices is the sustained production cuts by the Organization of the Petroleum Exporting Countries (OPEC).
3. Import prices of petroleum products
The international prices of petroleum products increased on average during the period under review. This was in line with the higher crude oil prices.
The 93 octane petrol price will be R15.54, R15.79 for 95 octane, diesel (0.05% sulphur content) will hit R14.19.
Adjustments:
Petrol 93 ULP and LRP – 82 cents per litre increase
Petrol 95 ULP and LRP – 82 cents per litre increase
Diesel 0.05% Sulphur – 85 cents per litre increase
Diesel 0.005% Sulphur – 87 cents per litre increase
Illuminating Paraffin (wholesale) – 82 cents per litre increase
Maximum LP Gas retail Price – 138 cents per litre increase
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