The Price of Fuel is Going Up Again

Oil stock market chart, Stock market data with car fuels concept, oil station hand and fuel nozzle in car
Getty Images

Come Wednesday, motorists will fork out more at the pumps as fuel prices are — yet again — set to increase, the department of energy announced on Sunday.

In its statement, the department said both grades of petrol, 93 and 95 (ULP and LRP), will increase by 26c and 23c a litre respectively.

It has blamed the price hike on the rand, which weakened from R12.51 to R13.29 during the period under review. “This led to a higher contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 43.21c/l, 44.36c/l and 44.62c/l respectively,” the department said.

According to the department, lower crude oil prices, as well as import prices of petroleum products, also contributed to the hike. “The market has started to become worried about the effect that the trade war between the USA and China will have on the global economy,” the statement read.

In short, prices have been adjusted as follows:

1. Petrol (93 Octane ULP and LRP) will cost 26 cents more per litre.
2. Petrol (95 Octane ULP and LRP) will cost 23 cents more per litre.
3. Diesel (0.05 Sulphur) will cost 26 cents more pre litre.
4. Diesel (0.005 Sulphur) will cost 24 cents more per litre.

The hike comes just a month after the last increase, which saw motorists paying 82 cents more per litre for petrol and between 85 and 87 cents more per litre for diesel — so in all,

At this rate, South African motorists can’t be blamed for wondering, will we ever catch a break?

Some were even calling for a “national shutdown” to protest against the endless increases.

The original article appeared at HuffPost