Diesel rises to impact on the cost of living
THE Automobile Association (AA) said in a statement yesterday that despite the decrease in both grades of petrol, the latest diesel price hikes will have a significant impact on the cost of living in South Africa.
Minister of Mineral and Energy Resources (DMRE) Gwede Mantashe today announced a 12c/litre decrease to both grades of petrol, but low-sulphur 50ppm diesel will increase by 92 cents a litre, and the regular 500ppm will see a 98 cent rise. Illuminated paraffin will rise by 79.6 cents a litre.
The adjustments come into effect at midnight tonight.
Explaining the changes to the price of diesel and petrol, the DMRE said that the average international product prices of petrol decreased, while those of diesel and illuminating paraffin increased.
The department said that these prices climbed because there is still a shortage of diesel, due to lower exports from Russia as a major exporter of distillate fuel, low inventories globally as well as higher demand for distillates.