The petrol price is increasing again on Wednesday thanks to the rand

The price of petrol and diesel in South Africa will increase from Wednesday, announced the department of energy confirmed on Monday.

“The average Rand US Dollar exchange rate for the period 2 August 2019 to 29 August 2019 was R15.1729 compared to R14.0709 during the previous period,” the Central Energy Fund explained in a separate release.

“This led to higher contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 51.01 c/l, 54.30 c/l and 54.72 c/l respectively”

The petrol price (all grades) will jump by 11 cents per litre, adding to last month’s 11 cent increase.

Diesel will jump by 26 cents per litre, while paraffin will increase by 24 cents per litre.

#FuelPriceAdjustment #September2019 #TeamDMRE pic.twitter.com/PWXGARDXhU

— Department of Energy (@Energy_ZA) September 2, 2019

These increases will push the base petrol price to R16.01, and Diesel to a cent less than R15 per litre in Gauteng.

Yep, nothing but good news over here.

Had the Rand not slid, we might’ve been looking at a cheaper fuel price, as Brent Crude also dropped by around $5.30 per barrel during this period.

But hey, at least we haven’t again come close to the lows of October 2018, when the petrol price broke through R17 per litre.

The increase goes into effect on Wednesday at midnight, so be sure to visit the pumps tomorrow.

Feature image: Isabella Mendes via Pexels