January brings another fuel price hike
Petrol to increase by up to 43c a litre and diesel by up to 55c
Fuel prices will rise steeply at midnight on January 5, with the cost of 93 octane petrol inland increasing 43c a litre and 95 octane petrol by 40c.
The price of 50ppm sulphur content diesel will increase by 54c and 500ppm diesel by 55c. Illuminating paraffin will cost 55c a litre more, but liquefied petroleum gas will fall by 44c/kg.
The Automobile Association (AA) said the increases were driven by the increase in international oil prices, which offset the advances the rand has recently made against the dollar.
It said the rand's daily exchange rate dipped near R14.50 to the dollar during December, with the average exchange rate hovering near R15. But even the currency's ongoing strength has not been enough to contain oil's march back towards its pre-Covid-19 price levels.
"The outcome is steep increases across the board," said the AA.
Prices are still lower than they were a year ago.
The latest increase sees the inland price of a litre of 93 petrol rising to R14.69 and 95 petrol tp R14.86. A year ago, the price of 93 petrol was R15.84 and 95 was R16.16.