Fleet owners and motorists will have to fork out more for fuel as hefty price increases take effect on 4 December.
The fuel price adjustments announced by the Department of Mineral Resources and Energy on Tuesday will see the retail price of both grades of petrol 93 and 95 (ULP and LRP) increasing by 17 cents per litre (cents/l). The wholesale price of diesel (0.05% sulphur) will increase by a 54.88 cents/l and the price of diesel (0.005% sulphur ) will rise by 55.88 cents/l.
The wholesale price of illuminating paraffin will go up by 48.88 cents/l and the single maximum national retail price of illuminating paraffin will rise by 66 cents/l, while themaximum retail price for LP gas will increase by R1,72 per kilogram.
According to the department, the increases were partly due to the implementation of regulatory accounts system margins on petrol adjustments and adjustments to diesel and illuminating paraffin margins.
“In line with the application of the Regulatory Accounts System the Minister of Mineral Resources and Energy has approved a net increase of 15.4 c/l in the annual margin adjustments on petrol and a net increase of 8.88 c/l on diesel and illuminating paraffin wholesale prices, with effect from 04 December 2024,” the department said.
“The Minister of Mineral Resources and Energy has also approved the adjustments to some of the pricing elements of the maximum retail price structure of liquefied petroleum gas (LPG) with an adjustment of 114.97 c/kg with effect from 04 December 2024.”
The department said the average international product prices for petrol had decreased while diesel and illuminating paraffin prices had risen during the period under review.
“The rand depreciated against the US Dollar during the period under review, on average, when compared to the previous period. The average rand/US Dollar exchange rate for the period 01 November 2024 to 28 November 2024 was 17.9256 compared to 17.5301 during the previous period,” the department said.
“This led to a higher contribution to the basic fuel prices on petrol, diesel and illuminating paraffin by 22.35 c/l, 23.74 c/l, 23.62 c/l respectively.”
The slate levy on petrol and diesel remained unchanged at zero cents per litre.
