Photo by: Reuters
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.