The increases are as follows:
The adjustment means that a litre of 95 ULP, which currently costs 22.36 in Gauteng, will now cost R22.87 as of Wednesday, 2 November.
In a statement, the Department of Mineral Resources and Energy (DMRE) explained that the prices are influenced by several local and international factors including importation costs and the cost of crude oil.
“The average Brent Crude oil price increased from $89.79per barrel to $92.41per barrel during the period under review. The average international product prices of petrol, illuminating paraffin and diesel increased while LPG prices decreased during the period under review.
“The rand depreciated on average against the dollar, from R17.55 to R18.11 rand per dollar, during the period under review when compared to the previous one. The weaker Rand led to higher contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 37c per litre, 52c per litre and 48c per litre respectively,” the statement read.
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