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Johannesburg - The petrol price is set to increase by 39 cents a litre next week Wednesday, the department of energy announced.

The wholesale price of all grades of diesel is set to increase by 24.20 cents a litre.

The wholesale price of illuminating paraffin is set to increase by 12 cents a litre and the single maximum national retail price of paraffin is set to increase by 16 cents a litre.

The maximum retail price of liquefied petroleum gas is set to increase by 54 cents a litre on Wednesday, 5 February 2014.

“The average international product prices of petrol slightly increased whilst diesel and illuminating paraffin decreased during the period under review,” the department of energy said in a statement.

“The average rand/US dollar exchange rate weakened when compared to the previous period. The average rand/US dollar exchange rat for the period December 27, 2013 to January 30, 2014 was 10.8105 compared to 10.3581 during the previous period,” the department added.

“The weakening of the rand against the US dollar increased the contribution to the basic fuels prices on petrol, diesel and illuminating paraffin by 34.49 cents a litre, 36.58 cents a litre and 36.44 cents a litre respectively,” the department concluded. - Staff reporter