It’s a bad start to November for motorists as fuel prices increase again as of midnight on 2 November.
The Department of Mineral Resources and Energy announced on 28 October the hefty hikes.
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Diesel prices will increase by R1.40 per litre while both Petrols get a 51 cents to increase per litre.
Paraffin (bulk sale) will increase by 77 cents per litre but LPGAS decreases by 98 cents per litre.
The diesel price hike has been influenced by the high demand for fuel in the freight and trucking industry.
The trickle-down effect is likely to impact consumers and end users as transporters’ fees are likely to go up.
According to BUSINESSTECH, The Truck Association of South Africa, AgriSA, and the Road Freight Association have all warned that rising global demand and rising local prices will deeply impact South Africa.
“Diesel is the fuel source used by most transport companies in South Africa; it is the energy source that drives our logistics chain,” said the Road Freight Association’s Gavin Kelly.
The price increment has resulted from a rise in international petroleum products purchased by the rand (which is weak at the moment on the international market).
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