Fuel prices inch up in September after rand slide

The retail price of petrol in South Africa will rise by 0.7% from September 4, while the price of wholesale diesel will increase by 1.8%, the energy department said on Monday.

The price of petrol will rise by 11 cents to R16.03 ($1.05) per litre in the commercial hub of Gauteng province, while diesel will also go up by 26 cents to R14.59 per litre.

In a statement, Minister of Mineral Resources and Energy, Gwede Mantashe, said the increases were due to the sharp slide in rand in August. The currency slipped more than 10% against the dollar over global trade uncertainty and rising chances of credit downgrades locally.