South African fuel prices to rise across the board this week
The retail price of fuel in South Africa will increase by up to 43 cents a litre from Wednesday, while the wholesale cost of diesel will rise by as much as 55 cents, the mineral resources and energy department said on Monday.
In a statement, it said the retail price of illuminating paraffin, which millions of South Africans still rely on for lighting and cooking, would also go up by 74 cents. However the price of liquefied petroleum gas — used as fuel in heating appliances, cooking equipment and vehicles — will decrease by 44 cents a litre.
The Automobile Association had last month predicted an increase of at least 52 cents per litre for diesel and 34 cents per litre for petrol.
South Africa adjusts fuel prices each month based on global oil prices and the rand exchange rate. Price changes are adjusted in such a manner that the over- or under-recovery of procurement costs during the prior month is corrected in the following month.
“The average international product prices for petrol, diesel and illuminating paraffin increased during the period under review,” the energy department said on Monday.
“The rand appreciated against the US dollar during the period under review, on average, when compared to the previous period.”
The fuel price hike is bad news for South Africans already grappling with the tough economic environment resulting from the Covid-19 pandemic which has forced some businesses to close, leading to job losses.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
