South Africa
Petrol price to increase in January

Motorists will have to dig deeper into their pockets as all grades of petrol are due to increase next Wednesday.

The Department of Energy has announced that a 93 octane will rise by 50 cents a litre, while 95 octane will increase by 48 cents.

Meanwhile, a litre of Diesel (0.05% Sulphur) and will increase by 39 cents, while Diesel (0.005% Sulphur) will increase by 37 cents.

The department said the Rand/US Dollar exchange rate contributed to the increase of the petrol price.

“The Rand strengthened very slightly against the US Dollar from R13.91 to R13.87, on average, during the period under review when compared to the previous one.”

In addition, the key factor that contributed to the increase in the prices of crude oil was the fact that OPEC members agreed to cut production by 1.2 million barrels per from 1 January 2017 during their meeting that was held in Vienna, Austria, on 30 November 2016.

“Furthermore, Russia and other Non-OPEC producers also agreed to cut production by 600 000 barrels per day,” said the department.

True Technologies Aug

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