Petrol is set to increase at midnight Tuesday 4 February.
The Department of Energy announced on Friday 31 January that petrol is to increase by 39c a litre while diesel will increase by 24c a litre. The department attributed the increase to a combination of the increase of petroleum internationally and the weak rand.
A statement released by the Automobile Association on Monday 3 February, reinforced the Department of Energy’s justification. “On December 27, a dollar cost R10.35. By January 27 it cost R11.20, meanwhile international petroleum prices have ticked up”.
With the rand sitting at R11.19 to the dollar at the close of markets on Monday, that hike in March is looking very likely.
At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
