Petrol 93 (ULP and LRP) and Petrol 95 (ULP and LRP) will both be affected by the increase. Image: Pixabay
Department of Petroleum and Mineral Resources
1Min
South Africa
Petrol price to rise by R1.43 as diesel and paraffin costs drop
Motorists will face higher petrol prices from Wednesday, while diesel, paraffin and LP gas users are set to benefit from significant price reductions following the latest fuel price adjustments announced by the Department of Petroleum and Mineral Resources.
The Department of Petroleum and Mineral Resources (DMPR) has announced a mixed fuel price adjustment that will take effect on Wednesday, with petrol prices set to increase by R1.43 per litre, while diesel, illuminating paraffin and LP gas prices will decrease.
In a statement on Monday, the department said that the latest adjustments will see both grades of petrol rise by R1.43 per litre. Petrol 93 (ULP and LRP) and Petrol 95 (ULP and LRP) will both be affected by the increase.
Meanwhile, diesel users will receive some relief, with the price of diesel containing 0.05% sulphur decreasing by R3.24 per litre and diesel with 0.005% sulphur falling by R2.61 per litre.
The wholesale price of illuminating paraffin will decrease by R5.96 per litre, while the Single Maximum National Retail Price for illuminating paraffin will be reduced by R7.95 per litre. The maximum retail price of LP Gas will decrease by 17 cents per kilogram nationally and by 20 cents per kilogram in the Western Cape.
The DMPR attributed the petrol price increase largely to higher international oil prices. The average Brent crude oil price rose from US$101 per barrel to US$104.59 per barrel during the review period.
“This is due to the continued tension between the US and Iran, and the closure of the Strait of Hormuz,” the department said.
The department explained that diesel and paraffin prices declined more sharply than petrol prices because of lower seasonal demand for middle distillates as the Northern Hemisphere moves into summer.
“The prices of Propane and Butane remained the same during the period under review; however, freight costs decreased,” the DMPR added.
The stronger rand also helped limit fuel price increases. During the review period, the local currency strengthened against the US dollar from R16.65 to R16.52, resulting in slightly lower contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin.
In addition, motorists will benefit from a reduction in the general fuel levy, which has been cut by approximately R1.50 per litre for petrol and R1.96 per litre for diesel. The levy reductions will also come into effect on Wednesday.
