Motorists set to feel the pinch as petrol climbs higher
The price of petrol is going up 3c a litre at midnight tomorrow while diesel is getting 6c cheaper.
The effect of oil hitting a record high of $96 (about R631) a barrel on Thursday has been mitigated for local motorists by the rand strengthening against the dollar.
November's 3c petrol increase rounds the Gauteng price of 93 octane up to R6,90 a litre while coastal drivers will pay R6,80 for 95 octane.
The Minerals and Energy Department fixes the price of petrol, diesel and illuminating paraffin on the Friday preceding the first Wednesday of every month.
Government's price control rules are different for each of these three fuel types.
All garages have to sell petrol at the same price, depending on octane level and whether they are located inland or at the coast. Petrol of the same octane level is set at the same price.
Garages are allowed to choose their own profit margin for diesel. For illuminating paraffin, wholesalers have been instructed to raise their price 10c a litre, with a 13c increase limit for retailers.
The growing popularity of diesel powered cars along with the construction boom has seen demand grow to where diesel now costs more than petrol per litre.
Wednesday marks the first drop in diesel prices since February. The Minerals and Energy Department fixed the November wholesale price of "standard" 0,05percent sulphur content diesel at R7,02 a litre inland and R6,89 at the coast.
This month's 6c drop follows an outcry in October when government hiked the price of diesel 23c just as farmers needed to tank up their tractors for the planting season in the summer rainfall regions.