The retail price of petrol - both leaded and unleaded - will go up by 18c a litre at midnight on Wednesday, but it is unlikely to rise again next month, despite the relatively high price of oil.

The retail price of petrol - both leaded and unleaded - will go up by 18c a litre at midnight on Wednesday, but it is unlikely to rise again next month, despite the relatively high price of oil.


The department of minerals and energy said the price of diesel would go up by six cents a litre and illuminating paraffin by 10 cents a litre. A litre of unleaded at the coast will now cost R3,91 and R4,02 inland.


The department said the government had approved an increase of 0,7 cents a litre in the retail margin for petrol.


But good news for consumers is that Econometrix economist Tony Twine said an anomaly in the way the fuel price was calculated and the date that the changes were made meant the government would be collecting about 15c too much on petrol this month, "providing a buffer against the possibility of a further petrol price increase next month", reported.


It is believed that the high price of crude oil is the main reason local fuel prices are up, the report said.

Original article from Car