Costliest fuel price hike yet

Despite next Wednesday’s fuel price increase being only 49 cents per litre, instead of the previously predicted 92 cents, it will still take fuel prices into record numbers.

The 93 octane unleaded petrol price will increase from R14.32 to R14.72 per litre inland, which is 23 cents more than the previous record high of R14.19 a litre, reached in December.

The Automobile Association (AA) yesterday clarified their previous 92 cents estimate, saying it was the result of unaudited month-end fuel price data by the Central Energy Fund, based on the figures provided up to April 25.

The department of energy, however, had used figures going only until April 24, which resulted in the lower increase.

The increase will see both grades of petrol – 93 and 95 – increase by 49 cents; diesel (0.05% sulphur) will see a 59 cents per litre increase, while the 0.005% sulphur goes up by 58 cents.

The price of illuminating paraffin goes up by 52 cents per litre; and the maximum retail price of liquefied petroleum gas sees a 70 cents per kilogram increase.

“Even with the revised data, these increases are significant and are attributable to a weakening rand against the US dollar, and increasing international petroleum prices,” the AA said.

“We remain concerned about the increases, especially those to illuminating paraffin. Users will be hit particularly hard as we head into colder months where many households use it for lighting, heating and cooking.” – Citizen reporter