Faizel Patel – 04/01/2021
Motorists will have to dig deeper into their pockets after the Energy Department announced the price of 95 octane petrol will increase by 40 cents per litre from Wednesday, 6 January while the price of 93 octane petrol will increase by 43 cents per litre.
The prices of different grades of diesel (0.05% sulphur) increases by 55 cents per litre and (0.005% sulphur) by 54 cents per litre while illuminating paraffin will increase by 55 cents per litre.
The price of LP gas decreases by 44 cents per kg.
The Energy Department says the main reason for the fuel price adjustments is due to the Rand appreciating, on average, against the US Dollar (from 15.17 to 14.93 Rand per USD) during the period under review when compared to the previous one.
“This led to lower contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by about 24.00 c/l. The average Brent Crude oil price increased by almost 20% from 42.10USD to 49.20USD per barrel during the period under review. Crude oil prices continued to climb after the American Petroleum Institute (API) reported a crude oil inventory drawdown of 4.785 million barrels for the week ending on 25 December 2020.”
South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors
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