Fuel price to rocket by 71c

The retail price of all grades of petrol will increase by 71c per litre on Wednesday April 4, the Department of Energy announced on Friday.

The price of 0.05% sulphur diesel and that of 0.005% sulphur diesel will go up by 51.9% and 53.9% per litre respectively.

During the period under review, the average international product prices of petrol, diesel and illuminating paraffin increased.

The average rand/US$ exchange rate strengthened when compared to the previous period.

During the period under review, the average international product prices of petrol, diesel and illuminating paraffin increased.

The average Rand/US Dollar exchange rate strengthened when compared with the previous period. The average Rand/US Dollar exchange rate for the period March 2 2012 to March 30 2012 was 7.6193 compared with 7.6790 during the previous period.

The strengthening of the rand against the US Dollar decreased the contribution to the basic fuels price on petrol, diesel and illuminating paraffin by 5.41 c/l, 5.53 c/l and 5.40 c/l respectively.

Petrol 95 ULP octane in Gauteng will now cost R11.94 a litre, while at the coast it will cost R11.59 per litre compared with R9.88 previously.—I-Net Bridge

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