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Diesel and petrol prices go up again come Wednesday, with the price of unleaded (93 and 95) rising by 82 cents per litre and the wholesale price of diesel increasing by a whopping R1.01 to R1.05 per litre, depending on the sulphur concentration.
The wholesale price of lighting paraffin will also climb by 96 cents, while the LPG retail price will rise by 42 cents per kilogramme.
The December honeymoon is truly over now.
News24 reports the Department of Mineral and Petroleum Resources as saying that the average price of Brent oil increased from $72.78 a barrel to $77.41 over the past month, hence the increase.
“The main contributing factors (were) increased demand due to cold weather in the Northern Hemisphere (and an) anticipated increase in demand for oil from China following economic stimulation policies. On the other hand, supply was affected by the OPEC+ decision to delay production increases until April 2025 as well as new sanctions against Russia and Iran, which could further constrain supply and result in higher freight rates.”
Russia, Trump, Diddy or Cyril, the reasons don’t really matter anymore, just get to the pumps before midnight.
[Source:News24]