Record petrol high of R19.50 a litre in Gauteng/ inland provinces from Wednesday

South African fuel prices will hit record highs as of Wednesday, with the price of petrol spiking to R19.50 a litre in the economic hub of Gauteng and other inland provinces.

This comes as the Department of Mineral Resources and Energy (DMRE) announced on Monday night that the price of petrol (both 93 and 95 ULP & LRP) will increase by R1.21 a litre and diesel (0.05% and 0.005% sulphur) by R1.48 a litre as of November 3.

According to the DMRE, illuminating paraffin (wholesale) will increase by R1.45 per litre, while illuminating paraffin (SMNRP) will surge by R1.93 a litre. The maximum LPGas retail price will rocket by R2.90 a kilogram.

The surge in fuel prices comes largely on the back of the spike in crude oil prices and a weakening rand.