Motorists prepare for another petrol price hike

Motorists in South Africa have been warned to prepare for another petrol price increase, set to come into effect on Wednesday, October 4.

The price of 93 Octane will rise by 25 cents per litre, 95 Octane by 29 cents per litre, both grades of diesel by 42 cents per litre and illuminating paraffin by 37 cents per litre, the SABC reports.

The increase has been attributed to the rising global prices of petrol and diesel, the Central Energy Fund has said.

And there is more bad news, as the Automobile Association warned consumers to expect further increases due to a weaker rand, the threat of interest rate increases in the United States and buoyant global oil markets.

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