October 30 2017 – THE price of all fuel will increase with effect from midnight on (tomorrow) Tuesday, with the drivers of diesel vehicles hardest hit.
The price of all grades of petrol will increase by four cents a litre, while diesel (0.05 percent sulphur) will rise by 23c/l and diesel (0.005 percent sulphur) by 27c/l, the energy department said in a statement on Saturday.
The wholsesale price of illuminating paraffin would increase by 21c/l and the single maximum national retail price (SMNRP) by 28c/l. The maximum LPGas retail price would increase by 17c/kg.
The department said the main reasons for the fuel price adjustments were the rand/US dollar exchange rate and the prices of petroleum products in the international markets.
The rand weakened, on average, against the US dollar (from 13.13 to 13.62) during the period under review. The average international market prices of petrol and illuminating paraffin decreased, while the diesel prices increased. This led to an over-recovery of about 17c/l on petrol and about 2.5c/l on paraffin. Also, the average Brent Crude oil price increased slightly from US55.99 to US56.59 per barrel during the period under review. – ANA
