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#Petrolprice Prepare for a hike in petrol price on Wednesday

The price of petrol will increase by 52 cents a litre and diesel by and extra 76 cents on Wednesday, theDepartment of Energy said on Monday.

It said the hike was informed by the price increase of petroleum products on international markets and the weakening of the rand.

“The main reasons for the fuel price adjustments in June 2016 are (a) the average increase in the prices of petroleum products in the international markets (about 30.00c/l for petrol and 56.00c/l for diesel respectively), and (b) the weakening of the rand against the US Dollar during the period under review which contributed to the price adjustments by over 20.00c/l.”

It added that the bigger increase in the diesel price was a result of demand patterns, with analysts expecting the diesel market to be tight in the next few months.

The price of illuminating paraffin will increase by 83 cents per litre on Wednesday and that of liquefied petrolium gas by 98 cents per kilogram.

This post first appeared on The Edge Search, please read the originial post: here

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#Petrolprice Prepare for a hike in petrol price on Wednesday


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