Namhla Tshisela
Namhla Tshisela
Motorists will feel the pinch of the first petrol hike of the new year today, after the price went up by eight cents a litre at midnight last night.
This increases the price of petrol in Gauteng to R5,98 for a litre of 95 octane and R5,73 in the coastal areas.
While wholesale paraffin also goes up by three cents a litre, retailers will pay an extra four cents a litre.
However, drivers of diesel powered vehicles will continue to enjoy lower fuel prices as the wholesale price will go down. The price will drop by 17 cents a litre.
This hike follows a series of fluctuations in the price of fuel in 2006, with an increase of up to R7 a litre recorded in August.
The price for 93 octane petrol will increase by six cents, while 91 octane petrol will go up by five cents a litre.
The price for illuminating paraffin will increase by three cents a litre.
"We have experienced an increase in the global price of petrol and that has resulted in this hike," Department of Minerals and Energy deputy director-general for hydrocarbons and energy planning Nhlanhla Gumede said.
He said increase would not be felt that much because of the strengthening rand.