The price of fuel is expected to increase again from Wednesday.
According to the statement issued by the Department of Energy, the price of petrol will go up by five cents a litre.
Diesel will see the biggest increase of 45 cents, while paraffin will cost 39 cents more.
The department says the main contributor to the latest increase is higher international oil prices.
It says the recent appreciation in the local currency resulted in lower increases.
Absa economist Miyelani Maluleke says the fuel price adjustments will not make a significant impact on the general prices in the economy.
“This does not make a huge difference. We still see headline CPI averaging 3% this year. At this stage, it doesn’t raise concerns. It’s an unwelcomed development”, says Maluleke.
June fuel hikes
The fuel prices had increased in June, with the price of petrol going up by over R1 per litre, reversing savings gained in the two months before that when prices plummeted.
The plunge in oil prices, sparked by the softer demand during the global COVID-19 outbreak, as well as the Saudi Arabia and Russia Price war, fuelled the previous price decreases.
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