September 2, 2019 / 2:29 PM / in 6 months

South African fuel prices inch up in September after rand slide

A nozzle pumps petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas

JOHANNESBURG (Reuters) - The retail price of petrol in South Africa will rise by 0.7% from Sept. 4, while the price of wholesale diesel will increase by 1.8 percent, the energy department said on Monday.

The price of petrol will rise by 11 cents to 16.03 rand ($1.05) per litre in the commercial hub of Gauteng province, while diesel will also go up by 26 cents to 14.59 rand per litre.

In a statement, Minister of Mineral Resources and Energy, Gwede Mantashe, said the increases were due to the sharp slide in rand in August. The currency slipped more than 10% against the dollar over global trade uncertainty and rising chances of credit downgrades locally.

($1 = 15.2369 rand)

Reporting by Mfuneko Toyana; editing by David Evans

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