South African Fuel Prices Rise in September After Rand Slide

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

A nozzle pumps petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas

The price of petrol will rise by 11 cents to 16.03 rand ($1.05) per litre in the commercial hub of Gauteng province, while diesel will also go up by 26 cents to 14.59 rand 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.

(Reporting by Mfuneko Toyana; editing by David Evans)