The fuel price is going up to a record high with petrol increasing between 99 cents and one rand.
According to the latest increase announced by the Department of Energy (DoE), fuel prices will sky-rocket to its most expensive come Wednesday.
Speaking to Xolani Gwala, Director for fuel pricing at the Department Of Energy, Robert Maake says the increase is catastrophic and the highest in recent times.
Because the crude oil price was higher than the previous price review period and it led to higher prices of petroleum products which contributed to 50 cents on petrol and 72 cents on diesel. And the weaker rand contributed 50 cents to both.— Robert Maake, Director For Fuel Pricing at Department Of Energy
He adds that his department intervened last month to keep the price from increasing, however, the intervention was a once off occurance based on available funds that are not available this month.
Listen below to the full interview:
This article first appeared on 702 : Blow to consumers as fuel price sky rockets to record high