Cape Town – The Department of Mineral Resources and Energy (DMRE) has announced an increase in the price of all grades of petrol and diesel from Wednesday this week.
Both 93 and 95 Octane petrol will see a 37c increase, while diesel with 0.05% sulphur will rise by 72c and diesel with 0.005% sulphur by 71c. Illuminating paraffin prices will also increase by 71c at wholesale and 95c at the maximum retail price, except for LP gas, which will decrease by R1.61.
Adjustments to the prices will be as follows:
- Petrol (both 93 and 95 Octane): 37c increase.
- Diesel (0.05% sulphur): 72c increase.
- Diesel (0.005% sulphur): 71c increase.
- Wholesale illuminating paraffin: 71c increase.
- Single Maximum National Retail Price for illuminating paraffin: 95c increase.
- Maximum Retail Price of LPGas: R1.61 decrease.
The reason for these price adjustments is attributed to the increase in the average Brent Crude oil price from $75.10 USD to $79.75 USD during the review period.
International product prices of petrol, diesel, and illuminating paraffin followed this upward trend, resulting in higher contributions to their Basic Fuel Prices.
The appreciation of the Rand against the US Dollar during the same period partially offset these increases, leading to lower contributions to the Basic Fuel Prices.
Furthermore, the DMRE said that there will be no slate levy applicable in the petrol and diesel price structure for August 2023 due to a positive balance of R2.69 million in the cumulative slate balance on petrol and diesel as of the end of June 2023.
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Compiled by Betha Madhomu
