File Image: IOL
Cape Town - The Department of Energy has announced motorists will have to fork out 71 cents more per litre of petrol, while the wholesale price of diesel is set to increase between 57 cents and 60 cents a litre.

The department, in a statement, attributed the price hikes to the international prices of petrol, diesel and illuminating paraffin increasing, and currency fluctuations.

Previously the Automobile Association said that unaudited mid-month fuel price data from the Central Energy Fund in November indicated that this was due to a significantly weaker rand, which is testing one-year lows against the US dollar, while international oil prices have also seen substantial increases this month. 

This was corroborated by the department in their statement.

“The rand depreciated against the US dollar during the period under review,” they said.

“This led to a higher contribution to Basic Fuels Price on petrol, diesel and illuminating paraffin by 23.15c/* , 23.03c/* and 23.34c/* respectively.”

The wholesale price of illuminating paraffin will go up by 73 cents a litre, while the maximum retail price for Liquid Petroleum (LP) gas will increase by 204 cents per kilogram. The price increases take effect on Wednesday.

ANA