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Local

Petrol price to hit R17.00 per litre

2 October 2018 7:35 AM
Tags:
Petrol
R17 per litre
fuel increase

CEO at Outa Wayne Duvenage says the increase is a combination of internal and external factors.

At midnight the fuel price is going up to a record high with petrol increasing between 99 cents and one rand.

Petrol prices will increase by between 99 cents to one rand, paraffin will increase to between R1.04 and R1.39 while LP Gas will increase by R1.79.

READ:Blow to consumers as fuel price sky rockets to record high

The Automobile Association of South Africa has said that the increases are catastrophic for road users.

The Organisation of Undoing Tax Abuse (Outa) has previously called for the government to reduce the fuel levy by R1.

CEO at Organisation Undoing Tax Abuse (Outa) Wayne Duvenage says the increase is a combination of internal and external factors and this time around it is the external factors of the weaker rand and mostly the higher oil price.

If you just go back to March this year the oil price was about 35% lower than what it is at around 66 dollars a barrel and our petrol was at R13.76 for 95 octanes and the rand was a bit stronger.

Wayne Duvenage, CEO at Outa

The combination of those and to the rand now edging up in September to just under R15 to the dollar and just under R80 Rand a barrel has had a massive impact over the last number of months.

Wayne Duvenage, CEO at Outa

He adds that internal factors include the fuel levy. He says the government has pushed it too far and they need to make sure that come February, they don't slap the consumer with such high levies.

Listen below to the full interview:


2 October 2018 7:35 AM
Tags:
Petrol
R17 per litre
fuel increase

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