The Department of Mineral and Petroleum Resources (DMPR) has announced an increase of between 20c and 65c for all forms of fuels from Wednesday.
The fuel price adjustments are based on current local and international factors.
The following fuel price adjustments will be implemented:
- Petrol 93 (ULP and LRP): 20c increase.
- Petrol 95 (ULP and LRP): 20c increase.
- Diesel (0.05% sulphur): 62c increase.
- Diesel (0.005% sulphur): 65c increase.
- Illuminating Paraffin (wholesale): 44c increase.
- Single Maximum National Retail Price for Illuminating Paraffin: 58c increase.
- Maximum Retail Price of LP Gas: 23c increase and 26c per kilogram increase in the Western Cape.
“The average Brent Crude oil price increased from 64.08 US Dollars (USD) to 69.08 USD during the period under review. The main contributing factors are higher shipping rates and geopolitical uncertainty caused by the tension between the US and Iran, which could result in the disruption of crude oil supply in the Strait of Hormuz.
“The average international product prices followed the increasing trend of the crude oil price. These factors led to higher contributions to the Basic Fuel Prices of petrol, diesel, and illuminating paraffin by 37.53 cents a litre, 81.36 cents a litre, and 63.81 cents a litre, respectively.
“The prices of Propane and Butane increased during the period under review due to the cold weather in the Northern Hemisphere and tighter global supply,” the DMPR said.
Furthermore, the Rand strengthened against the dollar during the period under review, strengthening from R16.31 to R16.00 per USD.
“This led to higher contributions to the Basic Fuel Prices of petrol, diesel, and Illuminating Paraffin by 16.96 cents a litre, 19.20 cents a litre, and 19.21 cents a litre respectively,” the department said. – SAnews.gov.za
