Motorists will face higher fuel costs from Wednesday as the Department of Mineral and Petroleum Resources (DMPR) announced increases ranging from 20c to 65c across all fuel types.
The steepest increases will hit diesel users, with diesel containing 0.005% sulphur rising by 65c per litre and diesel with 0.05% sulphur increasing by 62c per litre. Petrol 93 and Petrol 95, in both unleaded (ULP) and lead replacement (LRP) variants, will each increase by 20c per litre.
Illuminating paraffin will rise by 58c per litre at the single maximum national retail price, while the wholesale price increases by 44c. LP gas will increase by 23c per kilogram nationally, with a 26c increase in the Western Cape.
The DMPR attributed the increases to rising international crude oil prices and currency fluctuations. Average Brent crude oil prices increased from 64.08 US dollars to 69.08 US dollars during the review period.
“The main contributing factors are higher shipping rates and geopolitical uncertainty caused by the tension between the US and Iran, which could result in the disruption of crude oil supply in the Strait of Hormuz,” the DMPR said.
The department said international product prices followed the crude oil price trend, contributing 37.53c per litre to petrol’s basic fuel price, 81.36c per litre to diesel, and 63.81c per litre to illuminating paraffin.
Propane and butane prices also increased due to cold weather in the Northern Hemisphere and tighter global supply.
Despite the rand strengthening against the dollar during the review period, from R16.31 to R16.00 per US dollar, this still added to fuel costs. The currency movement contributed an additional 16.96c per litre to petrol, 19.20c per litre to diesel, and 19.21c per litre to illuminating paraffin.
The new fuel prices take effect from midnight tonight, 3 March.
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