The price of both grades of petrol will increase by 9c/l with effect from midnight on Tuesday, the energy department said. File picture: Motshwari Mofokeng/African News Agency(ANA)

Johannesburg - The price of both grades of petrol - 93 octane and 95 octane unleaded (ULP) and lead replacement petrol (LRP) - will increase by 9c/l with effect from midnight on Tuesday, the energy department said.

The wholesale price of illuminating paraffin would increase by 8c/l and the single maximum national retail price (SMNRP) of illuminating paraffin would increase by 10c/l. 

The maximum retail price for LPG gas would increase by 7c/kg.

Addressing the implementation of the carbon tax levy into the structures of the price of petrol and diesel, the department said: "In line with the minister of finance’s Budget Speech on 20 February 2019, the Fuel Levy applicable on petrol and diesel will increase by 9.0 c/l and 10.0 c/l respectively with effect from 05 June 2019."

The average international product prices for petrol, diesel and illuminating paraffin decreased from April 26 to May 30, and forms part of the economic factors affecting the unit over/under recoveries, the department said.

"The Rand depreciated against the US Dollar during the period under review, on average, when compared to the previous period. The average Rand/US Dollar exchange rate for the period 26 April 2019 to 30 May 2019 was 14.4127 compared to 14.1401 during the previous period," it said. 

"This led to a higher contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 14.32 c/l, 15.02 c/l and 14.92 c/l respectively. The Single Maximum National Retail Price for the period 05 June 2019 to 02 July 2019 will be 1 241.0 c/l compared to 1 231.0 c/l for the period 01 May 2019 to 04 June 2019." 

African News Agency (ANA)