If you haven’t filled up your car yet – you may want to do so before midnight on Tuesday.
The Department of Energy on Monday said the retail price of all grades of petrol would increase by R1.18 cents per litre. Diesel would rise by 22 cents.
The department said high oil prices due to a decrease in production and increased demand in the United States led to the hikes.
There have been significant fuel price reductions over the past few months due to a plummet in oil prices.
This was due to less demand during the COVID-19 pandemic and a price war involving Saudi Arabia and Russia also saw a collapse in Brent crude prices.
Ironically, as South Africans were forced to stay home, it became cheaper to drive to work.
The opposite appears to be happening now as South Africans return to work, prices are on the increase.
But the Department of Energy said fuel prices were still cheaper than several weeks ago.
This could not remain for long as oil-producing nations have agreed to reduce production by about 10 million barrels per day, and many nations were easing their lockdowns, which was seeing more vehicles on the road.
More Stories
Power Cuts To Continue Into The Weekend – Eskom
Eskom Confirms Sabotage At Tutuka Power Station
We Listened To The People – Ramaphosa
NICD Reports 7 238 New COVID-19 Cases In SA
NICD Reports 8 179 New COVID-19 Cases In SA
Nersa Opposing Legal Bid To Overturn Decision To Grant Karpowership Licences
Gift Of The Givers Slams Government For KZN Slow Response
After Criticism, Mthethwa R22m Flag Project To Be Reviewed – Mthethwa
Health Department Opposes Challenge To New Regulations
Mthethwa Defends R22m Flag Project
Teffo Must Follow Proper Channels – Lamola
NICD Reports 5 096 New COVID-19 Cases In SA