South African consumers will have to brace themselves for a massive fuel price increase at the petrol pumps, which come into effect next week.
The Department of Energy announced a 72 cents a litre increase in the price of 95 ULP and 69 cents a litre in the price of 93 ULP. This will see a litre of petrol in Gauteng rise from R13.76 to R14.48 cents a litre.
Meanwhile, both grades of Diesel 0.05% and 0.005% Sulphur will increase by 65.2 cents, while the wholesale price of Illuminating Paraffin (Wholesale) will rise by 2.30 cents.
The prices will go up on Wednesday.
Illuminating Paraffin (SMNRP) will decrease by 6 cents a litre, while the Maximum Retail Price for LPGAS will increase by 39 cents per kilogram.
The department said the increase in primary transport costs are attributed to an annual average 3.4% increase in road transport tariffs and an average increase of 24.8% in pipeline transport costs announced by the National Energy Regulator of South Africa (Nersa) on 16 March.
In addition, the former Finance Minister Malusi Gigaba in the Budget Speech in February announced that the fuel and the Road Accident Fund levies on petrol and diesel will increase by 22 and 30 cents a litre, respectively on Wednesday.