Diesel to increase by 4c/litre from midnight

Farmers had little time to celebrate the National Energy Regulator (Nersa’s) decision to reject Eskom’s tariff increase application after the Department of Energy (DoE) announced today (30 June 2015) that diesel prices and all other fuel prices were set to increase at midnight.

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The DoE said fuel price increases were primarily due to the weakening of the rand against the US dollar during June 2015.

”The rand lost around 40 cents against the American dollar since the end of May 2015 as a result of negative sentiment on emerging markets globally,” said DoE spokesperson Johannes Mokobane in a statement.

He also said that the increase in international fuel prices was mainly due to a strong demand for petrol in Europe and to pre-Ramadan buying in the Asian market.

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According to the DoE, the latest fuel price increases for South Africa would be 4c/litre for both grades of diesel, 44c/litre for 93 ULP and LRP petrol, 41c/litre for 95 ULP and LRP petrol, 6c/litre for wholesale illuminating paraffin, 8c/litre for the single maximum national retail price of illuminating paraffin, and 56c/kg for liquefied petroleum gas.

“The Department of Energy would like to urge all motorists to continue implementing fuel efficiency measures, such as using public transport and utilising lift clubs whenever possible to ensure that they save fuel,” said Mokobane.