The Department of Mineral and Petroleum Resources has confirmed that all types of fuel will increase in cost in December 2024, including petrol prices.
Adjustments to fuel prices, effective Wednesday, 4 December 202 will spare no consumers as the petrol price, diesel price, gas price and cost of illuminating paraffin will increase.
Fuel Price Adjustments for December 2024
- Petrol (93 & 95 ULP & LRP): Increase of 17 cents per litre
- Diesel (0.05% sulphur): Increase of 54.88 cents per litre
- Diesel (0.005% sulphur): Increase of 55.88 cents per litre
- Illuminating Paraffin (Wholesale): Increase of 48.88 cents per litre
- Illuminating Paraffin (SMNRP): Increase of 66 cents per litre
- Maximum LPGas Retail Price: Increase of 172 cents per kilogram
Petrol Price December 2024
There was a slight decline in the Brent Crude oil price, from $73.28 to $72.70 per barrel, influenced by OPEC+ maintaining production levels and increased output from non-OPEC countries, contributed to the adjustments.
While global petrol prices dropped due to weaker seasonal demand, diesel and illuminating paraffin saw increases which heightened winter demand in the Northern Hemisphere. LPG prices rose following increases in propane and butane costs.
The Rand depreciated from R17.53 to R17.93 against the US Dollar during the review period. This increased the cost of importing crude oil and petroleum products.
Industry margins for petrol rose by 15.4 cents per litre and by 8.88 cents for diesel and illuminating paraffin. The slate levy, however, remained unchanged due to a positive balance of R4.84 billion for petrol and diesel.
The petrol price increase for December 2024 will be a financial strain on consumers and is set to impact the cost of transport and living expenses.
