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Is Petroleum Price Going Up Next Wednesday?

The cost of petroleum will increase by between 69 and 72 cents per litre (c/l) next week from now, the Department of Energy revealed on Wednesday.

Diesel will rise by 65 c/l while LP gas will jump by 39 cents per kilogramme from next Wednesday.

The only place consumers will get relief is through the 2c/l drop in illuminating paraffin prices and the recent drop in interest rates.

The announcement was made in a statement on Wednesday.

The hikes were largely due to the increase in the fuel price levy, announced during February’s budget speech.

Higher prices in the spot price of brent crude also contributed to the hikes.

This will be bad news for consumers, who next month also face a hike in the rate of value added tax (VAT).

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Written by How South Africa

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