Petrol price breaches R16

Written by Midweek. Posted in Latest News

Klerksdorp Midweek, Klerksdorp - The fuel price is going up on Wednesday 4 July and it will be a new record high.

According to the Department of Energy, the petrol price will increase by 26 cents a litre for 93 octane, with 95 octane fuel up by 23 cents, while diesel (0.05% sulphur) will be hiked 26 cents per litre.

Adjustments:
- 93 ULP and LRP - 26 cents per litre increase.
- 95 ULP and LRP - 23 cents per litre increase.
- Diesel 0.05% Sulphur - 26 cents per litre increase.
- Diesel 0.005% Sulphur - 24 cents per litre increase.
- Illuminating Paraffin (wholesale) - 22 cents per litre increase.
- LP Gas - 37.00 c/kg increase.

The department attributed the increase to the rand/US dollar exchange rate, decrease in the prices of crude oil and the import pri-ces of petroleum products.

“The rand’s movements were mainly influenced by global factors. The market has started to become worried about the effect that the trade war between the USA and China will have on the global economy.

“The main reason for the lower crude oil prices is that the Organisation of Petroleum Exporting Countries (OPEC) and its allies agreed to increase production in order to retake market share from rivals and to calm prices to avoid blunting demand growth du-ring their meeting in June,” said the department.

This is what you can expect to pay:
- 95 petrol will cost R16.02 (up from R15.79).
- 93 petrol will cost R15.80 (up from R15.54).
- Diesel 0.05% Sulphur will cost R14.45 (up from R14.19).

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