Adjustments to South African fuel prices have been announced by the Department of Energy.
All fuel types will see an increase in price this month, with Diesel being hit the hardest, as reported by BusinessTech.
The official price increases are as follows:
- Petrol 93 – 43 cents per litre
- Petrol 95 – 40 cents per litre
- Diesel 0.05% – 55 cents per litre
- Diesel 0.005% – 54 cents per litre
- Illuminating Paraffin – 55 cents per litre
Despite the strengthening rand, increased international prices for petrol, diesel, and illuminating paraffin was spurred by movement in international oil prices.
“While South African fuel prices are well off their record highs, the country’s economy is in a fragile state, and any shocks to international oil prices or the rand/US dollar exchange rate could hurt fuel users badly,” said the AA recently.
Another factor in the adjustments for January is the price difference between 93 and 95 petrol.
The differentials of these two types of petrol are adjusted at the start of each quarter, therefore we are seeing a different price adjustment between the grades, said the Department of Energy.
The fuel price adjustments will come into effect on Wednesday, 6 January 2021.