The Department of Minerals and Energy has confirmed steep fuel prices which will be adjusted from Wednesday.
This is the second consecutive fuel hike for this year and analysts have warned of more increases in the future.
“Both grades of petrol will increase by R1,21 cents per litre, while the diesel price will be hiked by between R1,06 and R1,19 per litre.
Illuminating Paraffin will increase by 85 cents at the retail level, and LP gas will increase by 41 cents per kilogram,” said the department spokesperson, Robert Maake.
Maake added that the second increase of the year is due to various reasons both domestic and international.
“The average international product prices of petrol, diesel and illuminating paraffin increased in line with the higher crude oil prices. LPG prices increased due to higher freight costs and weaker rand.
These factors led to higher contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 102.82 c/l, 102.76 c/l and 47.42 c/l, respectively.
Transnet Pipelines has decommissioned the Kroonstad pipeline on the 31st of December 2023.
This has affected the four Magisterial District Zones, which are 8C, 9C, 10C and 11C,” highlighted Maake.
Maake said the transport tariff adjustments that apply to petrol and diesel price structures will range from a decrease of 5.7 c/l (8C) to an increase of 0.9 c/l (10C).
The Rand/US dollar exchange rate also contributed to the increase.
“The Rand depreciated slightly on average, against the US Dollar was 18.77 to 19.20 during the period under review when compared to the previous one.
This led to higher contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 17.71 c/l, 18.74 c/l and 18.53 c/l, respectively,” said Maake.
According to Maake, in line with the provisions of the self-adjusting slate levy mechanism, the slate levy on petrol and diesel will remain at 0.00 c/l with effect from Wednesday.
