The prices of petrol and diesel will decrease on Wednesday, 5 January.
This is according to the Department of Energy, which announced the official fuel price adjustments for the month – reported on by BusinessTech.
The fuel price changes coming into effect on Wednesday are detailed below.
- Petrol 95 – decrease of 68 cents per litre.
- Petrol 93 – decrease of 71 cents per litre.
- Diesel 0.05% – decrease of 67 cents per litre.
- Diesel 0.005% – decrease of 69 cents per litre.
- Illuminating Paraffin – decrease of 71 cents per litre.
The result of the changes means petrol will drop below R20.00 per litre this week, following its climb to record highs in 2021.
South Africa’s official per-litre fuel prices (inland) for January 2022 are listed below.
- Petrol 95 – R19.61
- Petrol 93 – R19.36
- Diesel 0.05% (wholesale) – R17.24
- Diesel 0.005% (wholesale) – R17.28
- Illuminating Paraffin – R10.96
Fuel price adjustments
South Africa’s fuel price is affected by two main factors: international petroleum prices and the the rand/US dollar exchange rate.
Minister of Energy Gwede Mantashe stated that while the rand depreciated against the US dollar during the period under review, the average Brent Crude oil price decreased from $83 to $76 a barrel.
Mantashe added that a price increase of 2.20c per litre would be implemented as part of the “Self-Adjusting Slate Mechanism”.
The slate levy is used to compensate the industry for a cumulative under-recovery.