The retail price of petrol will increase by 11 cents per litre from August 7, the Central Energy Fund (CEF) said in a statement.

Both grades of petrol, namely 93 and 95, or ULP and LRP, will increase by the same amount, while diesel 0.05% Sulphur will decrease by 13.29 cents and diesel 0.005% Sulphur will drop by 14.29 cents per litre.

The Central Energy Fund said the economic factors which contributed to the price adjustments included the rand/dollar exchange rate for the period from 28 June 2019 to 01 August 2019, which was 14.0709 compared to 14.6227 during the previous period.

“This led to a lower contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 27.59c/l,28.56c/l and 28.89c/l respectively.”

The wholesale price for illuminating paraffin will decrease by 2 cents.