Africa-Press – South-Africa. After weeks of anticipation, the Department of Mineral and Petroleum Resources has announced a sharp hike in fuel prices.
Both grades of petrol will increase by R3.06 cents per litre.
Diesel will see an even steeper rise, climbing by between R7.37 and R7.51 cents a litre.
The new prices come into effect at midnight.
READ: DA applauds R3 fuel levy cut but warns against rising national debt
While the increases are slightly lower than earlier predictions, concerns remain about the impact on the cost of living and the broader economy.
Rising global oil prices driven by conflict in the Middle East have pushed crude to around one hundred dollars a barrel, triggering the local hikes.
In a significant development, Finance Minister Enoch Godongwana has announced temporary relief, a three rand cut to the general fuel levy for one month.
Department spokesperson Lerato Ntsoko expands on additional increases.
“Illuminating paraffin for wholesale will increase by R11.67 per litre. The single maximum national retail price for illuminating paraffin will increase by R15.60 per litre. The maximum retail price for lp gas will increase by R1.08 per kg and R1.23 per kg in the Western Cape.”
For More News And Analysis About South-Africa Follow Africa-Press
