Massive fuel price increase for 5 Sep

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IOL mot aug31 fuel price INLSA Photo: Leon Nicholas

Fuel prices are sky rocketing again and South Africans are going to face a steep increase of 93 cents a litre from Wednesday, 5 September.

All grades of petrol will increase by 93 cents a litre while both grades of diesel will increase by 69 cents a litre.

This means those in the inland regions will now pay R11.97 for a litre of 95 octane unleaded, R11.76 for 93 grade, R10.94 for 500ppm diesel and R11.00 for 50ppm diesel.

Why such a hefty increase? According to the Department of Energy, international fuel price increases accounted for an 88.34 cents per litre share of the petrol price increase while a slight dip in the rand's value added 0.848 cents and an increase in the retail margin to accommodate wage increases at service stations contributed 3.5 c/l to the tally.

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