South Africa: Petrol, Diesel Prices to Increase

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30 December 2024
SAnews.gov.za (Tshwane)

Holidaymakers will have to dig deeper into their pockets as they make their way back home following the announcement that all grades of petrol and diesel are expected to increase from New Year's Day, this Wednesday.

The price of LP Gas is also expected to increase with a decrease in the cost of paraffin.

This was announced by the Department of Mineral and Petroleum Resources (DMPR).

The price adjustments for fuel, paraffin and gas are as follows:

  • Petrol 93 (ULP & LRP): 19c increase.
  • Petrol 95 (ULP & LRP): 12c increase.
  • Diesel (0.05% sulphur): 7c increase.
  • Diesel (0.005% sulphur): 10c increase.
  • Illuminating paraffin (wholesale): 9c decrease.
  • Single Maximum National Retail Price for illuminating paraffin: 13c decrease.
  • Maximum LPGas Retail Price: 13c increase.

This means a litre of petrol 95 ULP, which currently costs R21.47 in Gauteng, will now cost R21.59 a litre as of Wednesday.

At the coast, a litre of 95 petrol, which cost R20.68 in December, will now cost R20.80 a litre from January.

"The average Brent Crude oil price increased slightly from US$72.70 to US$72.78 during the period under review. The main contributing factors are the OPEC+ decision not to increase production in December and continued oversupply by non-OPEC producers amid low economic growth globally.

"The average international product prices of petrol followed the increasing trend of crude oil while the prices of middle distillates decreased slightly because of higher inventories for the winter season in the Northern Hemisphere.

"These factors led to higher contributions to the basic fuel prices of petrol and diesel by 9.33 c/l and 2.93 c/l respectively and lower contributions to illuminating paraffin by 18.92 c/l.

"The Rand depreciated on average, against the US Dollar (from 17.93 to 18.11 Rand per USD) during the period under review when compared to the previous one. This led to higher contributions to the Basic Fuel Prices of petrol, diesel and Illuminating Paraffin by 10.58 c/l, 11.11 c/l and 10.90 c/l respectively," the department explained.

Read the original article on SAnews.gov.za.

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