Today's Labour News

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petrolpumpFin24 reports that petrol prices will be hiked by 37c a litre on Wednesday, while wholesale diesel prices will fall by 30c a litre (0.05% sulphur) and 36c a litre (0.005% sulphur).

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. The wholesale price of illuminating paraffin will be cut by 19c a litre. 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 Hemisphere as the colder weather subsided. Meanwhile, the rand weakened from R18.04 to R18.90 per dollar over the past month.

  • Read the original of the short report in the above regard at Fin24

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