A STRONGER rand during the festive season might be the only hope for consumers to put something in their pockets as fuel prices rise.
Today the retail price of petrol rose by between 36 and 37 cents a litre. A litre of 95 ULP (unleaded) petrol in Gauteng now costs R10.54.
The retail price of petrol, 93 ULP and LRP (lead replacement petrol) will increase by 37 cents a litre. At present 95 ULP and LRP costs 36 cents a litre.
Nedbank economist Isaac Matshego said the main cause of the increase was that the international oil price went down by 8 cents a litre.
He said the next fuel hike or decrease for the remainder of 2011 would depend mainly on the fluctuation of the rand against the US dollar, "though the direction of international oil prices will remain crucial".
Fuel hike depends on rand
A STRONGER rand during the festive season might be the only hope for consumers to put something in their pockets as fuel prices rise.
Today the retail price of petrol rose by between 36 and 37 cents a litre. A litre of 95 ULP (unleaded) petrol in Gauteng now costs R10.54.
The retail price of petrol, 93 ULP and LRP (lead replacement petrol) will increase by 37 cents a litre. At present 95 ULP and LRP costs 36 cents a litre.
Nedbank economist Isaac Matshego said the main cause of the increase was that the international oil price went down by 8 cents a litre.
He said the next fuel hike or decrease for the remainder of 2011 would depend mainly on the fluctuation of the rand against the US dollar, "though the direction of international oil prices will remain crucial".
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