Motorists to pay more for fuel from midnight

SABC News PetrolJPG 1 1 - Motorists to pay more for fuel from midnight

Motorists will have to pay more for fuel from midnight. The price of petrol will go up by 54 cents a litre, while diesel will go up by 1 cent a litre.

From midnight, the price of a litre of petrol in Gauteng will cost R16.67 cents.

Petrol has gone up by R2.66 since January 2019. Paraffin will go up by 3 cents a litre.

Oil prices have been rising, but long-term trends still point to more supply and less demand.

Political turmoil in oil-rich countries as well as plans to eliminate all waivers to buy Iranian oil without facing US sanctions have sent oil prices to their highest in 2019.

The energy department says the Rand appreciated against the US Dollar during the period under review.

The average Rand and US Dollar exchange rate for the period of the 29 March to 25 April 2019 was R14.14 compared to R14.38 during the previous period.

Oil prices dipped slightly earlier on Tuesday, on the back of expectations of rising output from the US and that oil producer group OPEC would offset most of the shortfall expected from US sanctions on Iran.

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