The price of diesel falls from Wednesday four November by more than R1 per litre, while motorists using petrol will see only a one cent per litre reduction. Gwede Mantashe, Minister of Mineral and Petroleum Resources, announced the November fuel price adjustments.
Diesel with a sulphur content of 0,05% will fall by R1,10 per litre, while 0,005%-diesel becomes R1,20 per litre cheaper. The price of both 93 and 95 octane petrol falls by one cent per litre, while the wholesale price of paraffin rises by R2,75 per litre. The maximum retail price of liquefied petroleum gas (LPG) rises by R1,83 per kilogram and by R2,08 per kilogram in the Western Cape.
The department said the average price of Brent crude oil rose during the period under review from 101 United States dollars to 108 dollars per barrel. This is attributed to uncertainty due to the conflict in the Middle East, including recent attacks on infrastructure in Saudi Arabia, as well as higher freight and insurance costs.
Internationally, the price of petrol, diesel and paraffin also rose. The department attributes the higher price of middle distillates partly to limited global supply, greater seasonal demand ahead of winter in the Northern Hemisphere, and the continued conflict between Russia and Ukraine.
The rand also weakened and averaged between R16,21 and R16,55 against the United States dollar. According to the department, these factors contributed to further pressure on local fuel prices.
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This article is an automatic English translation of a Nuusflits article originally published in Afrikaans. Read the Afrikaans original.
