Pain at the pumps as steep fuel hikes kick in from Wednesday

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Motorists will pay more for petrol from Wednesday (iStock)
Motorists will pay more for petrol from Wednesday (iStock)

Motorists will pay north of 40c/l more for petrol and diesel from Wednesday, the department of mineral resources and energy said.

The department on Monday issued the fuel price adjustments for January. Steep hikes were previously predicted by the Automobile Association.

The fuel adjustments are as follows:

Petrol (both 93 ULP and LRP): 43 c/l increase

Petrol (both 95 ULP and LRP): 40 c/l increase;

Diesel (0.05% sulphur): 55 c/l increase;

Diesel (0.005% sulphur): 54 c/l increase;

Illuminating Paraffin (wholesale): 55 c/l increase;

Single Maximum National Retail Price for Illuminating Paraffin: 74 c/l increase;

Maximum LPGas Retail Price: 44 c/kg decrease

Among the contributing factors to the fuel price increases include the appreciation of the rand, which led to lower contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by about 24 c/l, the department said.

International prices of petroleum products increased across the board for petrol, diesel and illuminating paraffin.

The average Brent Crude oil price increased by almost 20% from $42.10 to $49.20 per barrel.

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