Monster fuel increase

2018-10-03 06:02

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AS from midnight last night, the price of fuel skyrocketed by the largest increase ever.

Both grades of petrol, 93 and 95 (ULP & LRP), increased by 99c and 100c a litre respectively, bringing the overall retail price of 95 ULP for motorists in Gauteng to R17.08c/l and R16.49c/l at the Coast.

Diesel 0.05% sulphur and diesel 0.005% sulphur increased by 124c a litre.

Illuminating paraffin goes up by 104c, while illuminating paraffin (SMNRP) will cost 139c more per litre.

The maximum retail price for LPGAS will spike by 179c per kilogram.

The Department has attributed the rising fuel price to the weakening rand exchange rate with the average rand/US dollar exchange rate for the period 31 August 2018 to 27 September 2018 being 14.7899 compared to 13.9430 during the previous period.

The Automobile Association warned that fuel users are facing unprecedented price increases which it describes as “catastrophic” for road users.

The Association noted that the major culprit is the country's economic policy, which has left South Africans defenseless against upticks in international oil prices.


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