(Ecofin Agency) - In South Africa, the Energy Department has raised the pump price of petrol by 52 cents per litre for all grades while diesel is to increase by 76 cent per litre from June 1.

The main reasons for the spike are the continued upward march of international petroleum prices and the weakening rand / US dollar exchange rate.In April, petrol 95 and 93 (both ULP & LRP) increased by 88 cent and 86 cent per litre respectively, Reuters reports.

The wholesale price of illuminating paraffin will rise by 62cent while the Single Maximum National Retail price rose by 83 cent per litre. LPGAS will also increase by 98 cent per kg.

The Automobile Association had urged motorists last week Friday to expect more price hike in the coming months. The Association said that the blend of firmer oil and weaker rand has made consumers witness the force of oil strength. Brent crude oil trading near $49.74 a barrel while the rand was weaker at R15.76 per $ on Monday.

“With South Africa's weak economy, our concern is that even if oil prices moderate, further declines in the rand will mask the benefit. It is possible that fuel prices will test new highs in the coming months, placing yet more stress on consumers,” the Association said.

Anita Fatunji