Road users will see a massive jump in the petrol and diesel prices this Wednesday (1 June 2016).
The Central Energy Fund has released the official fee changes for the month, pointing to a 52 cents jump in all grades of petrol, and a 76 jump in diesel.
These are the changes:
- Petrol 95 – 52 cents litre
- Petrol 93 – 52 cents litre
- Diesel – 76 cents litre
- Illuminating paraffin – 83 cents per litre
- Gas – 98 cents per kg
The average international product prices of Petrol, Diesel and Illuminating Paraffin increased during the period under review, the CEF said.
The Rand weakened against the US Dollar, on average, when compared to the previous period. The average Rand/US Dollar exchange rate for the period 29 April 2016 to 26 May 2016 was 15.2048 compared to 14.6477 during the previous period.
The weakening of the Rand against the US Dollar increased the contribution to the Basic Fuels Price on petrol, diesel and illuminating paraffin by 22.1 c/l, 20.65 c/l and 20.39 c/l respectively.
Taking the increases into account, this is what you can expect to pay at the pumps:
Source: Business Tech