South Africa: Petrol Price to Increase

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31 October 2022
SAnews.gov.za (Tshwane)

South Africans will be paying more at the pumps from Wednesday following the increase of all grades of fuel.

Illuminating paraffin and LP Gas prices are also expected to rise.

The increases are as follows:

  • All grades of petrol will increase by at least 51c
  • Diesel 0.05% sulphur will rise by some R1, 42
  • On the other hand, diesel 0.005% will go up by R1,43
  • Wholesale illuminating paraffin increases by 77c
  • The Single Maximum National Retail Price for illuminating paraffin will go up by R1,03
  • Maximum LP Gas Retail Price will increase by 98c

The adjustment means that a litre of 95 ULP, which currently costs 22.36 in Gauteng, will now cost R22.87 as of Wednesday.

In a statement, the Department of Mineral Resources and Energy (DMRE) explained that the prices are influenced by several local and international factors including importation costs and the cost of crude oil.

"The average Brent Crude oil price increased from $89.79 US Dollars (USD) per barrel to $92.41 USD per barrel during the period under review. The average international product prices of petrol, illuminating paraffin and diesel increased while LPG prices decreased during the period under review.

"The Rand depreciated on average against the USD, from R17.55 to R18.11 Rand per USD, during the period under review when compared to the previous one. The weaker Rand led to higher contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 37c per litre, 52c per litre and 48c per litre respectively," the statement read.

Read the original article on SAnews.gov.za.

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