Petrol price pain at the pumps

Tuesday, November 30, 2021

South Africans will be paying more at the pumps from Wednesday when fuel prices are expected to increase.

According to the Mineral Resources and Energy Department, the price of petrol (both 93 and 95) will go up by 81c per litre, while the price of diesel 0.05% will increase by 72c and diesel 0.005% sulphur will increase by 75c per litre.

“The main reasons for the fuel price adjustments are due to…[t]he contribution of the Rand/US Dollar exchange rate. The Rand depreciated, on average, against the US Dollar during the period under review when compared to the previous one.

“The increase in the prices crude oil…[t]he average Brent Crude oil price increased from 82.50USD to 83.00USD per barrel during the period under review. The key driver is the higher global demand recovery amid a weaker supply response from non-OPEC and other oil producers,” the department said in a statement.

The department said other factors contributing to the increase include petroleum products prices around the world, the adjustments in the Regulatory Accounting System Industry Margins and the implementation of the Slate Levy.

Meanwhile, the wholesale price of illuminating paraffin has increased by 42c per litre, while the maximum retail price for illuminating paraffin has increased by 56c per litre.

The retail price for gas also increased by R1.83 per kilogram. –