It is bad news for travellers in December as the official fuel price adjustment showed a second consecutive increase in fuel prices in South Africa.
The Department of Petroleum and Mineral Resources (DMRE) released the official adjustments on Tuesday.
The Department said that petrol for both grades, 93 and 95 will increase by 17 cents per litre and between 54.88 and 55.88 cents per litre for diesel.
The increase was across the board as prices for Illuminating Parrafin and LPGAS are also set to increase.
The DMRE said that Diesel 0.05% (wholesale) would increase by 54.88 cents per litre, while diesel 0.005% (wholesale) would increase by 55.88 cents per litre.
Illuminating Paraffin will increase by 48.88 cents per litre, while LPGAS increases by 172.00 cents per kg.
This means that 93 Petrol will increase from R20.98 to R21.15 per litre, while 95 Petrol will go up from R21.30 to R21.47 per litre.
Diesel 0.05% (wholesale) will increase from R18.66 to R19.21 and Diesel 0.005% (wholesale) will go up from R18.77 to R19.33 per litre.
Illuminating Paraffin increases from R12.87 to R13.36 and LPGAS (per kg) goes up from R36.44 to R38.16 per kg.
Fuel prices in the country are largely determined by global oil prices and the local currency, which has been hard hit this past month.
In November, the global price of diesel increased and the rand came in weaker when compared to October, leading to an under-recovery in both petrol and diesel prices.
The average rand/US Dollar exchange rate between 1 November 2024 and 28 November 2024 was 17.9256 compared to the 17.5301 during the previous month.
Department spokesperson Robert Maake said the rise to higher diesel prices was driven by increased demand in Europe and America during their winter season.
Maake said, “The rand depreciated against the dollar during the period under review from 17.53 to 17.93 during the period under review. The slate levy remains unchanged at 0 cents per litre in the price structures of petrol and diesel.”
He also highlighted adjustments approved by the minister and said, “The minister approved the annual margin adjustment of the net increase of 15.4 cents per litre on petrol and 8.88 cents on diesel and illuminating paraffin in line with the regulatory accounting system guidelines.”
The DMRE said that the Slate Levy on petrol and diesel will remain at 0.00 c/l with effect from 4 December 2024.
The prices of fuel differ between coastal and inland regions in the country.
Inland, the cost of 93 Petrol per litre will be R21.15, while 95 Petrol will cost R21.47 per litre.
Diesel 0.05% (wholesale) will be priced at R19.21, while Diesel 0.005% (wholesale) will cost R19.33.
Illuminating Paraffin will be R13.36 and LPGAS (per kg) will cost R38.16.
In the coastal regions, a litre of 93 Petrol will cost R20.36, while 95 Petrol will be priced at R20.68.
Diesel 0.05% (wholesale) will cost R18.42 per litre, while Diesel 0.005% (wholesale) will cost R18.57.
Illuminating Paraffin will be priced at R12.36, while LPGAS (per kg) will cost R35.20.
BUSINESS REPORT