CAPE TOWN, August 31 (ANA) - The Department of Mineral Resources on Friday released its monthly fuel price adjustments for September.
Petrol will increase on both grades, while diesel and illuminating paraffin will decrease.
According to the department, economic factors that affected the price adjustments included the fact the average international product prices for petrol, diesel and illuminating paraffin decreased during the period July 31 to August 27.
However, the rand depreciated against the US dollar during the period under review, on average, when compared with the previous period.
“The average rand/US dollar exchange rate for the period 31 July 2020 to 27 August 2020 was 17.2814 compared to 16.8234 during the previous period.
“This led to a higher contribution to the basic fuel prices on petrol, diesel and illuminating paraffin by 14.99 cents per litre, 15.12 cents per litre and 13.42 per litre, respectively,” the department said.
Both grades of petrol will increase by 1 cent per litre, both grades of diesel will decrease by 21 cents, illuminating paraffin (wholesale) will decrease by 26 cents and illuminating paraffin in single maximum national retail price will decrease by 35 cents.
In addition, Minister of Mineral Resources and Energy Gwede Mantashe has approved a retail margin increase of 5.3 cents per litre to be effected in the retail price structures of all octane grades of petrol.
The minister said the increase was necessary to accommodate the wage increases of pump attendants, cashiers and administrative staff at service stations.
The new price adjustments are to be effected from Wednesday, September 2.
- African News Agency (ANA); Editing by Yaron Blecher
