Diesel users see relief as fuel price hike looms

Motorists across South Africa might soon have to apply the brakes on side trips and short drives following the announcement of a fuel hike from Wednesday (June 3), reportsBerea Mail. The Minister of Mineral and Petroleum Resources reported rising on global fuel prices, based on current local and international factors, being the driving force behind the adjustment.“South Africa’s fuel prices are adjusted monthly, informed by international and local factors. International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including importation costs, and shipping costs,” said department spokesperson Yolanda Mhlathi.She said Brent Crude oil price increased from 101 US Dollars (USD) to 104.59 USD during the period under review.

This is due to the continued tension between the US and Iran, the closure of the Strait of Hormuz. Petrol 93 and 95 (ULP and LRP): R1.43 per litre increase. Diesel (0.005% sulphur): 261.96 cents per litre decrease.

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