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Petrol and diesel prices to rise in November 2022

South Africans will be paying more at the pumps from Wednesday, 2 November, following the increase in all grades of fuel. Illuminating paraffin and LP gas prices are also expected to rise.
A petrol station attendant is reflected in a side view mirror as he fills up a car ahead of a petrol price increase effective from midnight, at a filling station in Johannesburg on 31 May 2022. Reuters/Siphiwe Sibeko
A petrol station attendant is reflected in a side view mirror as he fills up a car ahead of a petrol price increase effective from midnight, at a filling station in Johannesburg on 31 May 2022. Reuters/Siphiwe Sibeko

The increases are as follows:

  • All grades of petrol will increase by at least 51c
  • Diesel 0.05% sulphur will rise by some R1,42
  • On the other hand, diesel 0.005% will go up by R1,43
  • Wholesale illuminating paraffin increases by 77c
  • The single maximum national retail price for illuminating paraffin will go up by R1,03
  • Maximum LP gas retail price will increase by 98c

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.



SOURCE

SAnews.gov.za is a South African government news service, published by the Government Communication and Information System (GCIS). SAnews.gov.za (formerly BuaNews) was established to provide quick and easy access to articles and feature stories aimed at keeping the public informed about the implementation of government mandates.

Go to: http://www.sanews.gov.za

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