Motorists will once again be forking out more at the pumps as petrol prices will increase at midnight.
South Africa’s latest fuel price increase announcement will see people forking out more that R20 per litre of petrol. This as petrol has gone up more than R2 per litre over the past two months.
Petrol will now cost R20.35 per litre for 95 petrol, while 93 will set consumers back R20.13 per litre. Diesel will cost just below R18 per litre.
Here’s a full list of price increases that will take effect from 1 December 2021
- Petrol (both 93 and 95 ULP & LRP) will increase by eighty-one cents per litre (81.00 c/l)
- Diesel (0.05% sulphur) will increase by seventy-two point five cents per litre (72.50 c/l)
- Diesel (0.005% sulphur) will increase by seventy four point five cents per litre (74.50 c/l)
- Illuminating Paraffin (wholesale) will increase by forty-two point two cents per litre (42.20 c/l)
- SMNRP for IP will increase by fifty-six cents per litre (56.00 c/l)
- Maximum LPGas Retail Price: one hundred and eighty-three cents per kilogram (183.00 c/kg)
The Department of Mineral Resources and Energy says the price increase is due to the weakening rand to dollar exchange rate. The rand to dollar exchange rate climbed from R14.72 to R15.85 per USD for the period of review. This has since climbed to R16.15 per USD which could see the price climb higher in the coming months.
A barrel of Brent Crude Oil also increased from 82.50USD to 83.00USD which further impacted the price of fuel. The slate levy also increased by a further R26.30 cents per litre compounding the pain of motorists.
The Automobile Association (AA) of South Africa said, ‘These increases are severe and will undoubtedly have major negative implications on already financially constrained consumers. In the last two months alone, petrol has increased by more than R2 a litre, diesel by between R2.21 and R2.23 a litre, and illuminating paraffin by R1.83 a litre.
The AA are calling for a review on the structure of the fuel price along with a recalculation of the elements which make up the price of fuel.