Motorists to fork out more for fuel costs from Wednesday
Department minister, Gwede Mantashe, said South Africa’s fuel prices are adjusted monthly and are informed by international and local factors.
MOTORISTS will be expected to budget extra for fuel costs. This comes after the Department of Mineral Resources and Energy announced an increase in petrol and diesel costs.
According to the department, petrol will increase by 29 cents a litre and diesel by 42 cents a litre from Wednesday, July 7.
Department minister, Gwede Mantashe, said South Africa’s fuel prices are adjusted monthly and are informed by international and local factors.
He said the international factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including importation costs.
Mantashe added the fuel price adjustment stems from the increased price of Brent Crude oil. The price increased from 66.00USD to 73.00USD per barrel during the period under review.
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He added that the movement of international refined petroleum product prices followed the increasing trend in crude oil prices.
“This led to higher contributions to the Basic Fuel Price of petrol by 36.74 c/l and 39.81 c/l, diesel by 52.33 c/l and 51.63 c/l and illuminating paraffin by 45.76 c/l,” said Mantashe.
Based on current local and international factors, the fuel prices for July will be adjusted as follows:
- Petrol (both 93 ULP and LRP): 29 cents per litre (29.00 c/l) increase.
- Petrol (both 95 ULP and LRP): 26 cents per litre (26.00 c/l) increase.
- Diesel (0.05% sulphur): 42 cents per litre (42.00 c/l) increase.
- Diesel (0.005% sulphur): 41 cents per litre (41.00 c/l) increase.
- Illuminating Paraffin (wholesale): 36 cents per litre (36.00 c/l) increase.
- SMNRP for IP: 48 cents per litre (48.00 c/l) increase.
- Maximum LPGas Retail Price: 63 cents per kilogram (63.00 c/kg) increase, and the fuel prices schedule for the different zones will be published on Tuesday, July 6.
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