Petrol price increase - Motorists to feel the pinch this week

By Lawrence Mienie

South African motorists will this week feel the pinch when filling up their petrol tanks as the fuel price is set to increase across the board.

Due to international crude prices and a weak performing rand the prices of all grades of fuel will increase, putting pressure on already cash strapped motorists.

93 Octane will increase by 23 cents a litre while 95 will jump by 29 cents a litre. 50 ppm diesel will climb by 42 cents.

This sees an increase of 2.1 percent for petrol bring the price to just over R14 rand a litre and 3.6 percent for diesel, bringing the price to just over R12.21 per litre.

The bad news on the horizon is that with a poorer performing Rand, a very buoyant oil industry and an interest rate hike in the US, further increases are inevitable in the coming months.