JOHANNESBURG – The cost of Grade 93 and 95 petrol will increase by 7 cents per litre from Wednesday, mainly because of increased international oil prices, the Department of Energy said on Friday. 

The price of diesel will increase by between 1c and 2c. 

The wholesale price of illuminating paraffin, used by poor households for cooking and heating, will be 5c lower per litre. 

Fuel prices are adjusted each month in line with movements in the rand exchange rate and international oil prices. 

“The rand appreciated against the US dollar during the period under review, on average, compared with the previous period,” the department said. 

“The average rand/dollar exchange rate for the period December 27, 2018, to January 31, 2019, was 13.9476 compared with 14.1778 during the previous period. This led to a lower contribution to the basic fuel prices on petrol, diesel and illuminating paraffin by 9.24c per litre, 10.85c per litre and 10.97c per litre respectively.” 

African News Agency (ANA)