Petrol prices will rise significantly from 3 November 2021. According to the energy department, the average international product prices for petrol, diesel and illuminating paraffin increased during the period under review.
Prices are affected by two main components – the rand/dollar exchange rate and charges to international petrol product costs, primarily driven by oil prices.
“The rand depreciated against the US dollar during the period under review, on average, when compared to the previous period. The average rand/US dollar exchange rate for the period 01 October 2021 to 27 October 2021 was R14.8175 compared to R14.5654 during the previous period,” it said in a statement.
These factors led to a higher contribution to the basic fuel prices on petrol, diesel and illuminating paraffin by 15.93 c/l, 15.53 c/l and 15.42 c/l respectively.
Petrol will rise by R1.21 a litre, while the price of diesel (0.05% and 0.005% sulphur) will rise by 148.2 cents a litre, the department said.
The changes are as follows:
- Petrol 95: increase of 121 cents per litre;
- Petrol 93: increase of 121 cents per litre;
- Diesel 0.05%: increase of R1.48 per litre;
- Diesel 0.005%: increase of R1.48 cents per litre;
- Illuminating Paraffin: increase R1.45 per litre.
Sources: BusinessTech, MSN
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