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Confirmed: petrol prices will go up starting from this Wednesday, see the changes below

We all know that oil is the economy of the world, oil is what controls the inflation. If oil becomes become unaffordable the world is in trouble. The easiest way to cause a country to have high inflation or low GDP, not just a country but even the world, is when the oil prices become unreasonable.

When oil prices becomes a problem that means, everything that is produced from oil becomes expensive. Petrol, diesel, gas, kerosene and all the other products that are produced from oils. We know that these are day to day necessities. We know that we can't really drive our cars or travel without fuel. Aeroplanes can't fly without kerosene, without oil there is no kerosene.

Oil plays a major role in big industries. The machines can't run without it. So the world depends on it, it is disturbing to hear this prize hike on fuel or any oil produced products. We are more likely to see a challenge on our GDP, currency and resources.

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Petrol to go up again on Wednesday 

The department of mineral resources and energy announced: 

• The petrol price will be hiked by 81c a litre on Wednesday. 

• Diesel will go up by between 72.5c a litre (0.05% sulphur) and 74.5c (0.005% sulphur). 

• Slate levy will also be hiked from 15.36 c/l to 41.66 c/l on Wednesday.

The latest price hike will push the price of petrol - currently around R19.50 a litre - to above R20 in Gauteng and other inland provinces. 

Illuminating paraffin will go up by 42.2c/l, while the maximum LPGas retail price will be increased by 183.00c/kg from 1 December. 

The latest fuel price hikes are due in large part to a sharp fall in the rand against the dollar, which averaged at R15.85/$ over the past month, compared to R14.72 the previous month. The average oil price also increased from $82.50 a barrel to $83.

Local fuel prices are determined by international oil prices - as well as the dollar-rand value, as South Africa buys oil in dollar. 

https://g.page/r/CSAoT5JS9U5-EBI/review 

#MzansiTimes

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