Motorists will face significant increases at the pumps from Wednesday as petrol and diesel prices rise by between R3.27 and R6.19 per litre.
The Department of Petroleum and Mineral Resources announced the increases on Monday, attributing them to rising international crude oil prices driven by ongoing tension between the United States and Iran.
Brent crude oil, the global benchmark for pricing, is currently trading at $108.17 per barrel, up from an average of $93.67 during the previous review period. The price rose to an average of $101 during the period under review.
Diesel and paraffin will see the steepest increases at R6.19 per litre for both grades of diesel, while petrol 93 and 95 will increase by R3.27 per litre. Illuminating paraffin will rise by R4.22 per litre at wholesale level and R5.63 per litre at retail level.
LPGas prices will increase by R5.07 per kilogram in Gauteng and R5.78 per kilogram in the Western Cape.
ALSO READ: Rising fuel prices set to drive up food and transport costs
The department said the closure of the Strait of Hormuz and damage to crucial infrastructure have affected crude oil supply. Middle distillate prices, which include diesel and paraffin, increased more than petrol prices due to higher demand and reduced supply from the Persian Gulf.
These factors contributed R2.04 per litre to petrol prices, R4.96 per litre to diesel and R4.21 per litre to illuminating paraffin.
The government has extended a R3 decrease in the general fuel levy for petrol and a R3.93 reduction for diesel in an effort to cushion consumers from the full impact of the increases.
The rand remained constant against the US dollar during the review period, contributing less than one cent per litre to basic fuel prices.
ALSO READ: Government to overhaul fuel pricing formula by March 2027
