Relief for festive season motorists as petrol price adjustments are announced

Minister of Mineral Resources and Energy, Gwede Mantashe, has announced the adjustment of fuel prices based on current local and international factors with effect from Wednesday, 2 December.

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.

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Based on current local and international factors, the fuel prices for December 2020 will be adjusted as follows:

• Petrol (both 93 ULP and LRP): 13.00 cents per litre decrease
• Petrol (both 95 ULP and LRP): 13.00 cents per litre decrease;
• Diesel (0.05% sulphur): 19.86 cents per litre increase;
• Diesel (0.005% sulphur): 19.86 cents per litre increase;
• Illuminating Paraffin (wholesale): 28.86 cents per litre increase;
• SMNRP for IP: 38.00 cents per litre increase;
• Maximum LPGas Retail Price: 137.00 cents per kilogram increase;

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.

According to the Department of Mineral Resources and Energy, the main reasons for the fuel price adjustments are due to rand’s appreciation against the US dollar, which offset increases in the price of Brent crude oil.

The fuel prices schedule for the different zones will be published on Tuesday, 1 December 2020.

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