Government says the price of both petrol and diesel would have been close to between R2 and R3 per litre respectively if there was no intervention.
The Department of Mineral and Energy has announced that Petrol 93 will go up by 28c per litre and 95 by 36c in South Africa on Wednesday, 6 April.
Diesel will see the steepest increase with a hike of R1.52.
“With respect to diesel, apart from increasing crude oil prices, there is also a shortage of diesel supply which is due to lower exports from Russia as a major
exporter of distillate fuel at discounted prices. That is why the rate of price increase in diesel is higher than that of petrol,” notes the Department in a statement on Monday.
The Department says crude oil prices averaged increased from $96.47 to $109.37 (US Dollars) during the period under review.
Although the Rand appreciated during the period under review continued sanctions imposed on Russia has led to escalating oil prices.
