The Department of Energy has announced that the petrol price increase for 5 September will be five cents as the Minister of Energy approved the urgent temporary fuel price intervention measure to reduce the expected petrol price hike.
The Central energy fund released the expected increase after confirmation of the state intervention on Monday.
The petrol increase for September was expected to set the cost of petrol at over R16 a litre. The intervention has been implemented to reduce the major costs for consumers.
A cause of the increase can be attributed to the economic conditions of the Rand against the Dollar.
The Department of Energy explained that the difference in figures contributed to the spike in the petrol price for September.
“The average Rand/US Dollar exchange rate for the period 27 July 2018 to 30 August 2018 was 13,9430 compared to 13,4713 during the previous period,” said the Department.
The five cents increase will account for the maintenance of petrol staff wages.
“The increase is necessary to accommodate the wage increase of pump attendants, cashiers and administrative staff at service stations,” explained the Department.
Both diesel and paraffin will remain unchanged for the month of September and may only change in October.
A release issued by the Department of Energy indicated that the state intervention is only for September’s petrol price.
“This is a once off temporary intervention to provide some relief for motorists and consumers against fuel price hikes,” said the Department.
#FuelPriceAdjustment #TeamEnergy pic.twitter.com/eoPNH2DuDt
— Department of Energy (@Energy_ZA) September 3, 2018
Picture: Pixabay