Fuel prices go up by 90 cents next Tuesday night
25/02/2014 23:00:00 Stories by Baphelele Kunene
OWING to the escalating international fuel prices and weakening exchange rates, fuel prices will next Tuesday at midnight go up by 90c.
This means a litre of petrol and diesel will now cost around E12.
This was announced by the ministry of natural resources and energy yesterday.
According to the Principal Secretary Thembinkosi Motsa, the hike will be felt from Tuesday midnight.
Motsa highlighted that the ministry had previously done all possible to cushion the fuel prices locally in order to protect consumers and the economy at large from negative effects of the high fuel prices.
Increase
He said the international market conditions, as of January warranted a E1.75 increase.
He mentioned though that the increase would not take cognisance of the full impact of E1.75.
“The ministry, whilst undertaking this unfortunate decision, also recognised the realities of the negative impact to the economy with high fuel prices, hence the increase in prices by 90c across the board instead of the E1.75 dictated by the international oil markets,” he said.
Local
Motsa mentioned that in spite of the unfortunate increases, the local prices were still relatively lower than those of neighbouring countries.
“The ministry wishes to earnestly request valued customers to promptly notify us should these prices be effected by any retailers before the due date,” he stated.
Mandate
He said as a ministry, they would continue with their mandate of monitoring the fuel price situation closely and the public would duly be informed of any imminent increase.
n The ministry, whilst undertaking this unfortunate decision, also recognised the realities of the negative impact to the economy with high fuel prices, hence the increase in prices by 90c across the board instead of the E1.75 dictated by the international oil markets
FUEL PRICES WILL
BE AS FOLLOWS:
The LRP
OLD NEW
E11.15/litre E12.05/litre
The ULP 95
OLD NEW
E11.10/litre E12.00/litre
The Diesel (0.05%S)
OLD NEW
E11.45/litre E12.35/litre
The Diesel (0.005%S)
OLD NEW
E11.50/litre E12.40/litre
Paraffin
OLD NEW
E8.50/litre E9.40/litre
