Petrol and diesel prices shot up by more than R1 on Wednesday, October 4, 2023, in South Africa, energynewsafrica.com can report.
The increment follows an announcement by the Department of Mineral Resources and Energy on Tuesday.
The unleaded petrol price (95) went up by R1.14 a litre, while grade 93 went up by R1.08.
Diesel (0.05% sulphur) has been increased by R1.96 a litre, while 0.005% sulphur jumped by R1.96.
A litre of 95 unleaded petrol now costs R25.68 in Gauteng, while the wholesale price of diesel costs R25.01 a litre in Gauteng, a new high for 2023.
In July last year, diesel reached a record high of R25.40.
Illuminating paraffin has been increased by R1.51 a litre.
South African fuel prices are determined mainly by international oil costs and the rand-dollar exchange rate, as oil is priced in dollars.
The department said in its statement that the main reasons behind the increase were crude oil prices, which jumped from US$87.78 to $91.86 in the period, refinery shutdowns in the US, global diesel shortages, and the rand’s depreciation against the dollar, from R18.67 to R19.
Source: https://[email protected]