Petrol price up by 6c/l

IOL image petrol attendant pump in hand INDEPENDENT MEDIA File picture : Neil Baynes, Independent Media

Cape Town – The retail price of petrol will increase by six cents a litre and the wholesale price of diesel will drop by 62 cents a litre from midnight on Tuesday, the energy department said on Friday.

The wholesale price of illuminating parafin would drop by 59 cents a litre, while the maximum retail price for liquid petroleum gas (LPG) would increase by one cent a kilogram.

The department said the average international product prices of petrol, diesel, and illuminating paraffin decreased during the period under review – December 31, 2015 to January 28.

But, 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 was 16.3276 compared to 14.8819 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 49.43c/l, 37.85c/l, and 38.88c/l respectively, the department said.

African News Agency

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