South Africa: Fuel, Paraffin and Gas Prices Set to Increase

Pixabay
(file photo)
4 September 2023
SAnews.gov.za (Tshwane)

The prices of both grades of petrol and diesel are expected to increase when the September prices come into effect.

The adjusted prices for all fuel types and gas are as follows:

  • Both 95 and 93 petrol are expected to go up by R1.71.
  • Diesel 0.05% sulphur will increase by R2.84.
  • Diesel 0.005% sulphur will go up by R2.76.
  • The price of wholesale illuminating paraffin will go up by R2.78
  • Single Maximum National Retail Price for illuminating paraffin is set to increase by R3.70.
  • Maximum Retail Price of LPGas is expected to rise by R2.26.

The Department of Mineral Resources and Energy (DMRE) said many factors, including the increase in the price of Brent Crude Oil, resulted in the increases.

"High prices of petrol are as a result of low inventories and refinery outages, which affected the production of blending components used in summer grade petrol, making it more expensive to produce.

"Diesel and paraffin prices increased because of lower shipments of Russia's Urals crude oil, which is rich in middle distillates, as well as rising demand of middle distillates ahead of the winter season in the Northern Hemisphere. LPGas increased because of higher prices of Propane and Butane.

"These led to higher contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 135.41 c/l, 253.42 c/l and 247.13 c/l, respectively," the department said.

The rand's depreciation against the dollar also played a role in the increased prices, as well as a DMRE approved 5c per litre increase in the price structure due to "accommodate the wage increase for forecourt employees, in line with the Motor Industry Bargaining Council (MIBCO) Agreement".

The adjusted prices are expected come into effect on Wednesday.

Read the original article on SAnews.gov.za.

Tagged:
Copyright © 2023 SAnews.gov.za. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.