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Saturday / 9 November 2024
HomeNewsOfficial petrol price for November – Increases across the board

Official petrol price for November – Increases across the board

The Department of Energy (DMRE) has published the latest official fuel price adjustments for South Africa, showing increases across the board for petrol and diesel users.

Petrol will go up by 51 cents, while diesel will see a substantial increase of up to R1.44 per litre, reports BusinessTech.

These new prices will take effect from Wednesday 2 November.

According to the DMRE, the official fuel price for November 2022 will be as follows:

  • Petrol 93 – Increase of 51 cents per litre
  • Petrol 95 – Increase of 51 cents per litre
  • Diesel 0.05% – Increase of R1.43 per litre
  • Diesel 0.005% – Increase of R1.44 per litre

A Slate Levy of 70.14 cents per litre has also been implemented into the price structure of petrol and diesel, in line with the provisions of the Self-Adjusting Slate Levy Mechanism, which will take effect with the price adjustments later this week.

Factors affecting the local fuel price

The average international price for petrol and diesel decreased during the period under review.

However, the rand depreciated against the US dollar in the same period, going from an average of R17.5547/dollar on 30 September to R18.1099/dollar as of 27 October.

Consequently, this led to a higher contribution to the Basic Fuel Price (BFP) of petrol and diesel, adding 37.55 cents and 51.43 cents per litre, respectively.

This means that, while petrol saw a reduction of as much as R1.02 in October, prices will once again be going up this month, and the situation is worse for diesel.

Diesel users have had no relief at the pump for several months now owing to supply and demand factors driving up the international price, including the ongoing Russia-Ukraine conflict and Europe’s impending energy crisis, which is leading markets in the Eurozone to stockpile diesel for machinery, heating and emergency supplies.

The table below shows how this month’s fuel price adjustments will reflect at the pump:

Fuel type Inland Coastal
Petrol 93 R22.57 R21.92
Petrol 95 R22.87 R22.22
Diesel 0.05% R25.49 R24.84
Diesel 0.005% R25.75 R25.11
Illuminating Paraffin  R17.76 R16.97

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