The wholesale price of diesel will increase by 23c per litre (l), while the wholesale price of illuminating paraffin will increase by 22c per litre.

The single maximum national retail price of illuminating paraffin (SMNRP) will go up by 30c per litre and the maximum retail price for LPGAS will increase by 58c per kilogram.

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According to the Department of Energy, economic factors including an increase in the average international product prices of petrol, diesel and illuminating paraffin impacted fuel prices in September.

On average, the rand appreciated against the dollar during September, but still remained above the average of August.

The average rand-dollar exchange rate for September was R14,0057, compared to R13,8016 during August. This led to increases in the contribution to the basic fuels price on petrol, diesel and illuminating paraffin by 7,89c/l, 7,48c/l and 7,50c/l respectively.

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On Thursday, the Automobile Association (AA) said it expected the price of petrol to increase by between 43c and 45c a litre, diesel by 23c and illuminating paraffin by 22c. The AA pointed out that stronger international petroleum prices have largely contributed to the fuel price increase it expected.

“Only around eight cents of this month’s increase will come from rand weakness. It is oil strength that has been the major contributor,” the AA said.

Source: News24 Wire