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Petrol price hike on Wednesday, but some diesel prices will be lowered

| Economic factors

By: News24

 

Petrol will be hiked on Wednesday (03/04/2024), while wholesale diesel prices are mixed.  

While the rand strengthened against the dollar over the past month, the average Brent oil price increased from $82.50 per barrel to $84.22. The main contributing factors were continued OPEC+ production cuts and Ukrainian attacks on Russian refineries, which could pose a supply risk, the department of mineral resources and energy said in a statement.

Unleaded petrol (95) will be increased by 67c a litre, while the wholesale price of diesel, depending on the grades, will see small cuts of between 4c and 9c per litre on the coast. In Gauteng, diesel with a 0.05% sulphur content will be hiked by just over 3c per litre. Gauteng diesel (0.005% sulphur) will be cut by almost 2c a litre.

The price of illuminating paraffin will fall by 29c a litre, while the maximum retail price of LP Gas will drop by 19c/kg.

The carbon fuel levy increased by 1c a litre for both petrol and diesel from next week, which brings the fuel levy on petrol and diesel to R3.96 and R3.84 a litre, respectively. Annual adjustments to road transport tariffs for petrol, diesel and paraffin will also take effect, up to a maximum of 14.8c depending on the area.

From Wednesday, 95 petrol will cost R25.12 a litre in Gauteng and R24.33 in coastal areas. This is the highest level since October last year. The wholesale cost of diesel will reach R22.45 a litre in Gauteng and R21.55 on the coast, also the highest level since October.

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