Petrol and diesel prices to increase from Wednesday

The department of mineral resources has announced an increase in price of petrol by 53c per litre from midnight Tuesday, 1 February.

It said that fuel price adjustment will also apply to:

• diesel, which will be increasing by between 79.84c and 78.84c per litre,
• illuminating paraffin, which increases by 101c per litre, and
• LPGas which will cost 124c less per kilogramme.

The department said in a statement that the increase were due to the average international prices for petrol, diesel and illuminating paraffin increasing during the period under review.

“South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors. International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including importation costs, e.g. shipping costs,” reads the statement.

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The mineral resources department also said the rand appreciated slightly, on average, against the US dollar (from 15.92 to 15.51).

“This led to lower contributions to the basic fuel prices of petrol, diesel and illuminating paraffin by 25.98 c/l, 26.24 c/l and 26.19 cents per litre, respectively.”

Based on current local and international factors, the fuel prices for February 2022 will be adjusted as follows:

• Petrol (both 93 and 95 ULP & LRP): 53 cents per litre increase;
• Diesel (0.05% sulphur): 79.84 cents per litre increase;
• Diesel (0.005% sulphur): 78.84 cents per litre increase;
• Illuminating paraffin (wholesale): 101 cents per litre increase;
• SMNRP for illuminating paraffin: 135 cents per litre increase;
• Maximum LPGas retail price: 124 cents per kilogramme decrease.