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Petrol price hike to hit hard

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The July fuel increase comes after a steep increase of 82 cents in June

02/07/2018. The petrol price is set to go up again this week. Picture: Thobile Mathonsi/African News Agency/ANA

CITY motorists will have to fork out more than R16 per litre of petrol from midnight, with the July fuel price hike going into effect from Wednesday.

The Department of Energy has announced that the petrol price will increase by 26 cents a litre for 93 octane, with 95 octane fuel up by 23 cents and diesel (0.05% sulphur) increasing by 26 cents per litre.

The increase will see South Africa’s fuel price at the highest it has ever been, with consumers expected to pay R16.02 (from R15.79 in June) per litre of 95 petrol, R15.80 (from R15.54 in June) for 93 petrol and R14.45 (from R14.19 in June) for diesel, from midnight.

Diesel (0.005% sulphur) will increase by 24 cents per litre while illuminating Paraffin (wholesale) goes up by 22 cents per litre and LP gas by 37.00 c/kg.

The department attributed the increase to the rand’s depreciation against the dollar, as well as a decrease in the price of crude oil and a decrease in the import price of petroleum products.

The July fuel increase comes after a steep increase of 82 cents in June.

City residents said yesterday that the fuel increase would put severe pressure on their finances.

“As the fuel goes up, so does everything else … except our salaries. We are just not able to make ends meet anymore. We are being held hostage by a government that has already implemented a VAT increase earlier this year and now this. They seem to be squeezing the last bit of life out of us,” one resident, who was yesterday filling his vehicle with petrol before the increase, said.