New Year, new petrol prices
With fuel prices going up on Wednesday, January 4 2017, here’s what you will be paying for fuel this month
SOUTH African motorists are in for a steep start to 2017 as they will have to dig deeper into their pockets as all grades of petrol are due to increase on Wednesday, January 4 2017.
This hike will be the first of what the Automobile Association (AA) expects to be a series of fuel price hikes this year.
In a statement released on Thursday, December 29 the Department of Energy announced that a litre of petrol 93 ULP and LRP will rise by 50 cents a litre, while a litre of 95 ULP and LRP will increase by 48 cents.
In December, a litre of 95 ULP cost R12.85 in Gauteng. Motorists in Gauteng will now have to cough up R13.33 for a litre of 95 ULP.
Meanwhile, a litre of Diesel (0.05% Sulphur) will increase by 39 cents, while Diesel (0.005% Sulphur) will increase by 37 cents.
The department said the Rand/US Dollar exchange rate contributed to the increase of the petrol price.
“The Rand has weakened against the US dollar since mid-December, while international petroleum prices have continued their upward march,” said the AA.
The AA observed that if international petroleum prices had remained unchanged from November, South African fuel prices would actually have dropped by around two cents a litre in 2017.
“The Rand strengthened very slightly against the US Dollar from R13,91 to R13,87, on average, during the period under review when compared to the previous one.”
In addition, the key factor that contributed to the increase in the prices of crude oil was the fact that OPEC members agreed to cut production by 1.2 million barrels per from January 1 2017.
The Department of Energy has released fuel price adjustments for January 2017 and moderate fuel price increases will take effect as of January 4.
You can expect to pay the following for fuel in January 2017:
Petrol
Reef: 93 Unleaded – R13.09 per litre / 93 LRP – R13.09 per litre / 95 Unleaded – R13.33 per litre.
Coast: 93 Unleaded – R12.71 per litre / 95 LRP – R12.85 per litre / 95 Unleaded – R12.85 per litre.
Diesel
Note: Wholesale diesel prices quoted, prices may vary between retailers.
Reef: Diesel 0.05% – R11.43 per litre / Diesel 0.005% – R11.45 per litre.
Coast: Diesel 0.05% – R11.03 per litre / Diesel 0.005% – R11.07 per litre.
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Infographic: The price of petrol from 1986 to 2016
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