Fuel price hike from October 5

The Department of Energy has informed South Africans that the petrol price will increase by 44 cents in October.

South Africa’s fuel prices are adjusted on a monthly basis, informed by both international and local factors.

International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including shipping costs.

The retail price of petrol (93 octane) will increase by 44c per litre and that of 95 octane by 43c per litre.

The wholesale price of diesel (both 0.05% sulphur and 0.005% sulphur) will increase by 23c per litre, and the wholesale price of illuminating paraffin will increase by 22c per litre.

The maximum national retail price of illuminating paraffin (SMNRP) will increase by 30c per litre and the maximum retail price for LPGAS will go up by 58c per kilogram.

The department says the main reasons for the fuel price adjustments are due to:

• The contribution of the Rand/US Dollar exchange rate. The Rand strengthened against the US Dollar, on average, during the period under review but, was higher than the average of the previous review period. The reason for this is that the R/$ exchange rate was R14.60 at the beginning of the review period on September 1 2016 and averaged to R14.01 on September 29 2016.
• The increase in the prices of petrol, diesel and illuminating paraffin, on average, in the international markets during the period under review. The Basic Fuel Price (BFP) of petrol (95 Octane), diesel and Illuminating paraffin increased by 43.0cpl, 23.0cpl and 22.0cpl respectively, during the same period. These increases were in line with the increase in the price of crude oil.

Based on current local and international factors, the fuel prices for October 2016 will be adjusted as follows:

1. Petrol (93 ULP and LRP): 44.00c/l increase
2. Petrol (95 ULP and LRP): 43.00c/l increase
3. Diesel (0.05% Sulphur): 23.00c/l increase
4. Diesel (0.005% Sulphur): 23.00c/l increase
5. Wholesale price of Illuminating Paraffin: 22.00c/l increase
6. SMNRP of Illuminating Paraffin: 30.00c/l increase; and
7. Maximum Retail Price of LPGas: 58.00c/kg increase.

Do you want to receive news alerts via WhatsApp? Send us a WhatsApp message with your name and surname to 061 718 4438.

Please read our WhatsApp broadcast list disclaimer.
Join us on BBM at 59015786
Join the conversation on Facebook, Twitter and Instagram.