Dance for All, Athlone
You are Here: News -> Fuel prices set to hike again

Fuel prices set to hike again

Return to previous page.

Fuel prices set to hike again

by Luyanda Makapela
03 Jun 2008
BuaNews Online
BuaNews Online

Motorists are set to dig deeper into their pockets as the petrol price is set to rise again on Wednesday by 50 cents per litre.

The Minerals and Energy Department has announced that the petrol price is set to rise by 50 cents per litre on all grades, while the wholesale price of diesel with a sulphur content of 0.005 percent will increase by 70 cents.

The wholesale price for illuminating paraffin is set to rise by 71 cents a litre, single maximum national retail price for illuminating paraffin by 94 cents a litre.

According to department on Tuesday, the increase is due to the average international product prices of petrol, diesel, and illuminating paraffin increase.

Last month, the department increased the petrol price by 55 cents a litre.

South Africa, however, is not the only country faced with escalating fuel prices.

In New Delhi, political parties opposed the hike in fuel prices.

Prime Minister Manmohan Singh on Monday however, warned that government was not in a position to fully insulate the consumer from the impact of rising oil prices.

"We cannot allow the subsidy bill to rise any further. Nor do we have the margin to fully insulate the consumer from the impact of world commodity and oil price inflation," the Prime Minister said, addressing the Assocham's annual meeting in New Delhi.

Calling for a wider political consensus, Mr Singh said the government could insulate poor people "up to a point" and economic pricing of oil was essential to sustain growth.

However, he expressed confidence that the Indian economy would continue to grow at 8 percent and above despite global slowdown.

India has maintained an economic growth of 9 percent and above for the last three years.

While the government would remain focused on reversing the upsurge in inflation, the Prime Minister said, "We have to learn to husband our fiscal resources prudently." - BuaNews

Return to previous page.

From our Directory

Drs HJ Chait and JA Melmed are situated in the heart of the Athlone CBD and are contracted to most Medical Aids. They're also open 7 days a week and provide special rates for pensioners. Call them on 021-6971102

The Trauma Counselling Practise in Newfields Estate offers assistance in the forms of HIV counselling, and dealing with depression, stress, anger and grief. You can contact them on 021-6374356

Legendary Printing in Belgravia Estate, Athlone is an Internet Cafe that also offers creative business design and PC repair, maintenance and sales services. Give them a call now on 0216975756.

Contact Us | About | Copyright | Advertising | Disclaimer

Website Design by BMSC-Online