Another petrol price hike on the cards

The price of petrol will increase by up to 68 cents per litre and diesel by 130 cents per litre

The Department of Minerals and Energy has confirmed that the retail price of petrol will increase by up to 68 cents per litre and diesel by 130 cents per litre with effect from next Wednesday.

The Department says high international prices for crude oil and a weak rand earlier this month have contributed to the latest fuel price hikes. The price for Brent Crude Oil peaked to nearly $110 per barrel while at the same time the rand weakened to almost R8 to the dollar, compared to R7,66 during the same period last year.

Meanwhile, responding to calls for government to help alleviate the constant hike in the petrol price, Chief Director, Hydrocarbons at the Department of Minerals And Energy, Muzi Mkhize says that they are looking at emphasizing the issue of fuel efficiency.

He says government has also tried to look at alternate energies such as biofuels.