Motorists should brace themselves as the price of petrol is set to sky-rocket to its most expensive yet come Wednesday.
According to the latest increase announced by the Department of Energy (DoE), the price of unleaded 93 petrol will therefore rise 99c, unleaded 95 will increase by R1 and diesel R1.24. Illuminating paraffin will cost an additional R1.04 and liquefied petroleum gas (LPG) R1.79.
The price change comes into effect on midnight on Tuesday.
The Automobile Association (AA) warned on Thursday warned that the “unprecedented price increases” would be “catastrophic for road users”.
“They are the biggest in South African history. The major culprit is South Africa’s chaotic economic policy‚ which has left us defenceless against upticks in international oil prices,” the AA said in a statement.
Oil and currency
Higher petrol prices are a combination of a rise in global international oil prices and a depreciation of the local currency.
In August‚ government dipped into the slate-levy fund to offer relief for consumers. The result was a minor 5c increase to the petrol price to cover the salaries of petrol attendants. But energy minister Jeff Radebe said at the time that the intervention was a “one-off”.