South Africa: Adjustment to the Fuel Price - Wednesday, 2 November 2011

press release

Based on the fuel price information available to the Department of Energy as at 28 October 2011, the following fuel price adjustments will become effective on Wednesday, 2 November 2011:

Petrol (95 ULP and LRP) will increase by 23.00 c/l;

Petrol (93 ULP and LRP) will increase by 23.00 c/l;

Diesel (0.05% sulphur) will increase by 36.00 c/l;

Diesel (0.005% sulphur) will increase by 36.00 c/l;

IP (wholesale) will increase by 41.00 c/l;

Single Maximum National Retail Price (SMNRP) will increase by 55.00 c/l; and

Maximum Retail Prices of LP Gas will increase by 34.00 c/kg.

During period under review, the average International product prices of Petrol, Diesel and Illuminating Paraffin decreased. The average Rand/US Dollar exchange rate weakened when compared to the previous period. The average Rand/US Dollar exchange rate for the period 30 September 2011 to 27 October 2011 was 8.0012 compared to 7.5657 during the previous period. The deterioration of the Rand against the US Dollar increased the contribution to the Basic Fuel Price on petrol, diesel and illuminating paraffin by 33.97 c/l, 35.82 c/l and 35.58 c/l respectively .

The Single Maximum National Retail Price for Illuminating Paraffin changes on a monthly basis and is promulgated in the Government Gazette. The Single Maximum National Retail Price for the period 02 November 2011 to 06 December 2011 will be 100.7 c/l compared to 952.0 c/l for the period 05 October 2011 to 01 November 2011, that is an increase of 55.00 c/l. The maximum refinery gate price will be R8 153, 54 per metric ton (452.52c/l), excluding VAT, for the period 02 November 2011 to 06 December 2011.

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