Government pumps up the price of petrol

Robert Laing

Robert Laing

The biggest price hike in the history of regulated petrol prices will take place on Wednesday. The price of 93 octane unleaded petrol commonly used in Gauteng is going up 69c to R6,54 a litre and 95 octane used at the coast is going up 68c to R6,43 a litre.

The jump is partly because of new taxes introduced by Finance Minister Trevor Manuel in February's budget speech. The fuel tax was increased by 5c a litre and the Road Accident Fund levy by another 5c a litre.

Higher oil prices and a weaker rand against the dollar are also to blame.

Petrol price increases are announced by the Minerals and Energy Department on the last Friday of every month and take effect at midnight on the first Tuesday of the next month.