Festive season pain as petrol and diesel prices increase from Wednesday

As the festive season kicks in, South African motorists will have to pay more for petrol and diesel at the pumps.

The increase, from Wednesday, 4 December, comes after a few months of reprieve for cash-strapped motorists who benefitted from significant drops in the petrol price.

Petrol and diesel prices

The Department of Mineral Resources and Energy (DMRE) announced that the price of both 93 and 95-octane petrol will increase by 17 cents per litre.

The price of diesel (0.05% sulphur) increases by 54.9 cents per litre, while diesel with 0.005% sulphur goes up by 55.9 cents per litre.

Meanwhile, illuminating paraffin will cost 66 cents more per litre, while the price of LP gas increases by R1.72 per kilogramme.

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How much fuel will cost you?

When the fuel price increase kicks in, a litre of 95 unleaded petrol will cost R21.47 per litre while 93 Unleaded will retail at R21.15.

The wholesale price of 0.05% diesel will increase to R19.21 per litre and 0.005% will cost R19.33.

Reasons for petrol increase

DMRE spokesperson Robert Maake said several factors contributed to the increases in petrol and diesel prices including the international petroleum product prices and the rand/US dollar exchange rate.

Brent Crude

The price of Brent Crude oil decreased slightly on average during the period under review, from $73.28 to $72.7 per barrel.  The average international price of petrol decreased slightly and diesel increased due to more demand in Europe and America and the northern hemisphere in general, for the winter season.

Rand/US dollar exchange rate

The rand depreciated against the dollar during the period under review from R17.53 to R17.93.

Slate levy

Maake said the Slate Levy remained unchanged at zero cents per litre in the price structures of petrol and diesel.

“The minister approved the annual margin adjustment of a net increase of 15.4 cents per litre for petrol and 8.88 cents per litre on diesel and illuminating paraffin in line with the regulator accounting system guidelines.”

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