Petrol price will be hiked on Wednesday, but diesel gets a cut
Petrol prices will be hiked by 37c a litre on Wednesday, while wholesale diesel prices will fall by 30c and 36c a litre .
In Gauteng, petrol will now retail at R25.49 a litre, while on the coast, it will cost R24.70 - reaching levels last seen in October 2023. But diesel is falling to the lowest levels since February this year. The wholesale price of diesel will be R22.15 a litre in Gauteng and R21.36 on the coast.South African fuel prices are largely determined by international oil costs and the rand exchange rate, as oil is priced in dollars. Oil surged this month amid military tensions between Israel and Iran.
Diesel prices fell due to seasonal changes and reduced demand for the fuel in the Northern Hemispheres as the colder weather subsides. Meanwhile, the rand weakened from R18.04/$ to R18.90 over the past month, amid fading hopes that US interest rates would be cut soon.Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
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