Faizel Patel – 01/06/2020
As South Africa enters level 3 of the national COVID-19 lockdown, the Energy Department announced the price of all grades petrol will increase by R1.18 cents per litre from Wednesday.
The prices of different grades of diesel increases by 22 cents (for 0.05% sulphur) and 21 cents (0.005% sulphur) per litre while illuminating paraffin will increase by 40 cents per litre.
The price of LP gas also increases by R1.98 cents per kg.
The Energy Department says the main reason for the higher oil prices is that OPEC, Russia and other oil producing nations agreed to reduce oil production by about 10 million barrels per day during a meeting in April 2020 which effectively removed about 10% of global supply of oil.
“The demand for refined products also increased as the easing of lockdown started in the US and other countries. It is important to note that the price of petrol is still on average R2.00 lower than it was at the beginning of the lockdown.”
South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors.
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