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Monday / 17 January 2022
HomeNewsPetrol hits R20 per litre

Petrol hits R20 per litre

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Prices for petrol will rise by 81 cents per litre in December, with prices for diesel rising by up to 75 cents per litre.

These adjustments, announced today by the Minister of Mineral Resources and Energy Gwede Mantashe, will come into effect on 1 December 2021.

South Africa’s fuel prices are subject to both international and local factors, with the weakening rand, increase in crude oil prices, and an increase in international refined petroleum product prices all contributing to the fuel price increases for December.

The official fuel price adjustments that will come into effect on 1 December are:

  • Petrol 93 – Increase of 81 cents per litre
  • Petrol 95 – Increase of 81 cents per litre
  • Diesel 0.05% – Increase of 73 cents per litre
  • Diesel 0.005% – Increase of 75 cents per litre
  • Illuminating Paraffin – Increase of 42 cents per litre

The official inland fuel prices for South Africa from 1 December will be:

  • Petrol 93 – R20.13 per litre
  • Petrol 95 – R20.35 per litre
  • Diesel 0.05% – R17.93 per litre
  • Diesel 0.005% – R17.98 per litre
  • Illuminating paraffin – R11.67 per litre

Factors affecting the fuel price

On average, the rand weakened against the US dollar from R14.72 to R15.85 per dollar during the period under review, which contributed to an increase of over 34 cents per litre for all fuel types.

Brent Crude oil prices increased from $82.50 to $83 per barrel, which also had a knock-on effect on the local price increases, said the minister’s announcement.

Furthermore, international refined petroleum product prices went up during this time and contributed to an increase of 1.50 cents per litre for petrol, 5.31 cents per litre for diesel, and 1.21 cents per litre for illuminating paraffin.

Along with these international factors, the minister also approved a net increase of 17.84 cents per litre for petrol and 8.20 cents per litre for both diesel and illuminating paraffin, which was “in line with the application of the Regulatory Accounting System”.

The final increase to fuel prices then comes in the form of the newly-added Slate Levy – that was increased by 26.30 cents per litre.

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