Cape Town - The
petrol price will go up by 93c a litre next Wednesday, while diesel will cost
69c/l more.
The steep 8.4%
increase that kicks in at midnight on September 5 is to partly to finance wage
increases for pump attendants at garages, the Department of Energy said on
Friday.
The latest shock
hike brings the price of 95 grade petrol in the inland commercial region of
Gauteng to R11.97/l and R11.62 at the coast.
The wholesale
diesel price will also go up by about 6.7% to R10.95/l.
This latest petrol
increase is also the result of rising oil prices and the average rand/dollar
exchange rate, which weakened in the review period compared with the previous
period. Oil prices have been pushed higher by supply issues and improved
consumer confidence in the US.
The average
rand/dollar exchange rate for the period July 27 to August 30 was 8.2758
compared with 8.2657 during the previous period.
I-Net Bridge
reports that the Minister of Energy on August 24 approved that the retail
margin on all grades of petrol be increased by 3.5c/l from 91.8c/l to 95.3c/l
with effect from September 5.
This increase‚ the
department said‚ was necessary in order for service station operators to
finance the wage increases for service station pump attendants and cashiers
agreed upon at the Motor Industry Bargaining Council in September 2010.
The increase to
accommodate wage increases is ring-fenced and should be excluded from
determining rental fees between service station operators and service station
investors‚ the department said.
Meanwhile, the
single maximum national retail price for illuminating paraffin will increase by
97c/l to R8.34/l.
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