Another cut in diesel prices, but petrol will be pricier from Wednesday
The wholesale diesel price will be lowered on Wednesday, but petrol is getting more expensive.
Petrol (both 93 and 95 unleaded) will be hiked by 37c a litre, while diesel will be cut by 47.5c (0.005% sulphur) and 73.5c (0.05% sulphur), the Department of Mineral Resources and Energy announced on Tuesday.
Illuminating paraffin will drop by 33c a litre, while the maximum LP Gas Retail Price will be cut by R4.44 a kilogram.
International petrol prices are on the rise because of the beginning of the so-called driving season in the US and faster economic growth in China, the department said. But the prices of middle distillates (which covers a range of refined products, including diesel and paraffin) were lower due to an oversupply in the markets.
Fuel prices are also determined by the price of oil, which increased from $79.24 a barrel to $82.20 over the past month, and the rand-dollar exchange rate. The rand strengthened from R18.30/$ to R18.20.
Due to an increase in the carbon levy of 1c a litre, which comes into effect this week, the general fuel levy of petrol and diesel will now be R3.96 a litre and R3.82 respectively.
The price of a litre of 95 unleaded petrol will be R23.34 in Gauteng from Wednesday, compared to R21.84 a year before – and a record price of R26.74 in July last year.
The wholesale diesel price will be R20.15 a litre. As recently as in November last year, diesel cost close to R25.50.
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