The prices of petrol, diesel and illuminating paraffin will increase with effect from Wednesday, the department of mineral resources and energy said on Tuesday. (Waldo Swiegers/Bloomberg via Getty Images)
The prices of petrol, diesel and illuminating paraffin will increase with effect from Wednesday, the department of mineral resources and energy said on Tuesday.
In a statement, the department said the retail price of 95-grade petrol would increase by R1.14 per litre to R25.68, while 93-grade would go up R1.08 to R25.22. The price of diesel would rise by R1.96 a litre.
South Africa’s fuel prices are adjusted on a monthly basis, based on international and local factors such as the price of crude oil and the rand exchange rate.
The energy department attributed the increase to higher crude oil prices during the period under review, refinery shutdowns in the US, global diesel shortages and the rand’s depreciation against the dollar.
“Diesel and paraffin prices increased because of autumn refinery maintenance and reduced exports from Russia amid increasing demand for middle distillates ahead of the winter season in the Northern Hemisphere,” it said.
“LP gas increased because of higher prices of propane and butane and higher freight costs. These led to higher contributions to the basic fuel prices of petrol, diesel and illuminating paraffin by 58.73 cents per litre, 138.85 cents per litre and 124.15 cents per litre, respectively.”
Last week, the Automobile Association said the anticipated rise in fuel prices would hit consumers hard, coming at a time when most South Africans are feeling financial pressure.
“It remains concerning, however, that in the face of these increases, the government remains silent on its plans, if there are any, on a way forward to deal more effectively with fuel price increases,” the association said.