Consumers to cough up 81c more for petrol

2013-03-01 13:26

All grades of petrol will go up by 81c a litre from next Wednesday, the department of energy has announced.

The wholesale diesel price will increase by 57c.

On February 6, the retail price of all grades of petrol increased by 41c a litre.

The latest increase takes the pump price per litre to R13.08 (93 ULP), and R12.87 (LRP) in Gauteng.

KPMG economist Lulu Krugel said earlier consumers may be in for a hard time given the rising international oil price and the rand weakening.

A fuel price increase was inevitable.

Finance Minister Pravin Gordhan on Wednesday announced in his 2013 budget speech that the RAF levy would increase by 8c and the fuel levy by 15c a litre of petrol. This will kick in on April 1.

In a post-budget presentation Gordhan explained the high petrol prices.

“Oil is extraordinarily high,” Gordhan said at a televised New Age breakfast briefing.

“And for various reasons the rand has been settling at R8.50 to R9 for the past few years.”

He said the weaker the rand, the more expensive the imports into South Africa became.

South Africa is a net importer of oil and adjusts its fuel price each month to account for changes in the rand exchange rate, the international oil price and government levies.

“During the period under review, the average international product prices of petrol, diesel and illuminating paraffin increased (and) the average rand/dollar exchange rate weakened when compared to the previous period,” the energy department said.

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.