Petrol price increase as of Wednesday
Despite AA predictions of fuel price decreases for September, the Department of Energy has officially announced that petrol will in fact increase slightly as of Wednesday, September 1.
Both grades of petrol will rise by 4 cents while diesel will go down by 15.22 cents per litre. Users of illuminating paraffin will pay 15 cents less per litre.
“The Rand depreciated, on average, against the US Dollar (from 14.54 to 14.77 Rand per USD) 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,” said Energy minister Gwede Mantashe.
Mantashe said the average Brent Crude oil price decreased slightly from 74.00 US Dollars to 72.50 US Dollars per barrel during the period under review.
“Analysts said the fall in crude oil prices was mostly due to trimming (or reduction) of positions by traders amid a weak spot demand which was fuelled by concerns that the coronavirus Delta variant might lead to some travelling restrictions,” he said.
For more information, visit the official Department of Mineral Resource & Energy by clicking here.
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