petrol price increase revised
30 June 2008

The retail price of petrol will now increase by between 69c to 75c a litre on July 2, and not between 75c to 81c as previously announced. 

Speaking to reporters shortly after returning from a meeting with the Energy Champions, she said "I am aware that there is a proposal for a (5.4c/l) increase in the wholesale margin which is supposed to come into effect later this week." However, the Minister announced that the proposal will not go ahead on Wednesday, and instead "she will embark on a process of consultation with all the role-players, including the petroleum industry, with a view to developing medium to long term approaches for this sector particularly at this time of unacceptably high and volatile oil prices".

Finally, the Minister urged all parties publicly to engage with this matter as it is affecting all South Africans.

The prices increase will be as follows:

Petrol 91 ULP - 69c per litre increase in retail price;
Petrol 93 ULP & LRP - 73c per litre increase in retail price; and
Petrol 95 ULP & LRP - 75c per litre increase in retail price.
Diesel (0.05% and 0.005%) will see a 63c per litre increase in wholesale price, while illuminating paraffin will have a 45c increase in wholesale price.

I-Net Bridge,  www.news24.com