Petrol price: Motorists to pay more at the pumps from Wednesday

With just about a month and a half left before the festive season kicks in, South African motorists will pay more for petrol and diesel at the pumps from Wednesday, 6 November.

The increase comes after a few months of reprieve for cash-strapped motorists with significant drops in the petrol price.

Petrol and diesel prices

The Department of Mineral Resources and Energy (DMRE) has announced that the price of both 93 and 95-octane petrol will increase by 25 cents per litre from Wednesday, 6 November.

The price of diesel (0.05% sulphur) increases by 21 cents per litre, and diesel with 0.005% sulphur goes up by 20 cents per litre.

Meanwhile, illuminating paraffin will cost 28 cents more per litre, while the price of LP gas increases by 36 cents per kilogramme.

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How much will it cost you?

When the fuel price decrease kicks in, a litre of 95 Unleaded petrol will now cost R21.30 per litre while 93 Unleaded will now retail at R20.98.

The wholesale price of 0.05% diesel will increase to R18.66 per litre and 0.005% will cost R18.77.

Reasons for petrol decrease

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 (USD)exchange rate.

“The reason for these increases is due to mainly higher oil prices on average during the period under review compared to the previous one.” 

Brent crude oil prices

The average Brent Crude oil price increased from $72.82 to $75.07 per barrel, during the period under review. The main contributing factor is the continued conflict in the Middle East and the stand-off between Iran and Israel.

Rand/US dollar exchange rate

The rand slightly appreciated on average, against the US dollar (from R17.68 to R17.53 per USD) during the period under review. This led to lower contributions to the Basic Fuel Prices of all products by over 8.00 cents per litre.

Slate levy

The cumulative slate amounted to a positive balance of R5.6 billion for petrol and diesel at the end of September 2024.

In line with the provisions of the Self-Adjusting Slate Levy Mechanism, a slate levy of zero cents per litre remains in the price structures of petrol and diesel with effect from 6 November 2024.

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