The Department of Mineral Resources and Energy (DMRE) has expressed as per Fin24 that fuel hikes are set to be steep for the first week of August.
The changes are set to be:
- Diesel (0.05% sulphur): 55.58 c/l increase
- Diesel (0.005% sulphur): 54.58 c/l increase
- Illuminating Paraffin: 50.00 c/l increase
- Single Maximum National Retail Price for LP Gas: 67.00 c/l increase
- Maximum LPGas Retail Price: 226.00 c/kg increase.
Why the climb?
The increase in the Brent crude oil price from $73 per barrel to $74 per barrel is one contributing factor as well as factors that Automobile Association (AA) spokesperson Layton Beard expressed (as per Jacaranda) to include:
- Higher international oil prices
- The Rand/US dollar exchange rate on a recent upward trend
Picture: Pinterest/ rd.com