New blow for motorists as price of petrol goes up
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.