SA to hike diesel, paraffin prices

JOHANNESBURG – The retail price of petrol in South Africa was expected to stay unchanged for May, the department of minerals and energy announced yesterday.

The department, in a statement, added that the wholesale price of diesel and illuminating paraffin would increase. The price of diesel with a sulphur content of 0,3 per cent was expected to rise two cents, that of diesel with a sulphur content of 0,05 per cent would go up by four cents a litre and illuminating paraffin would increase by seven cents at the wholesale level and nine cents under the single maximum national retail price.The department said the adjustments were based on the international prices for Brent crude oil moving in a band of US$30 to US$34 (about N$200 to N$230) per barrel.”The international product prices of petrol, diesel and illuminating paraffin, quoted in US dollars per barrel, increased substantially (between three and five US dollars per barrel) since April 4, 2004.These increases were partially off-set by a stronger rand against the US dollar.Compared to the average rand/US dollar exchange rate of the previous fuel price review period, the average rand value strengthened by almost four percent against the US dollar,” the statement said.- Nampa-SapaThe price of diesel with a sulphur content of 0,3 per cent was expected to rise two cents, that of diesel with a sulphur content of 0,05 per cent would go up by four cents a litre and illuminating paraffin would increase by seven cents at the wholesale level and nine cents under the single maximum national retail price.The department said the adjustments were based on the international prices for Brent crude oil moving in a band of US$30 to US$34 (about N$200 to N$230) per barrel.”The international product prices of petrol, diesel and illuminating paraffin, quoted in US dollars per barrel, increased substantially (between three and five US dollars per barrel) since April 4, 2004.These increases were partially off-set by a stronger rand against the US dollar.Compared to the average rand/US dollar exchange rate of the previous fuel price review period, the average rand value strengthened by almost four percent against the US dollar,” the statement said.- Nampa-Sapa