Fuel prices for petrol and liquefied petroleum gas (LPG) will decrease from October 6, while diesel and illuminating paraffin prices will increase.
Prices for 93-octane petrol will decrease by 4 c/ℓ and prices for 95-octane petrol by 1 c/ℓ.
The maximum retail price for LPG will decrease by 7 c/kg. Diesel with a sulphur content of 0.05% and 0.005% will increase by 22.8 c/ℓ, while illuminating paraffin prices will increase by 32 c/ℓ and the single maximum retail price for illuminating paraffin will increase by 43 c/ℓ.
The adjustments were made owing to an increase in crude oil prices from $72.50/bl to $75.50/bl and expectation that the natural gas crunch in Europe will spill over to other countries and lead to higher oil prices.
International refined petroleum product prices followed the increasing trend in crude oil prices, which led to higher contributions to the basic fuel price of petrol by 12.22 c/ℓ, diesel by 24.48 c/ℓ and illuminating paraffin by 42.78 c/ℓ, the Department of Mineral Resources and Energy said in a statement.
Further, the rand strengthened to R14.56 against the dollar, which led to lower contributions to the basic fuel prices of petrol, diesel and illuminating paraffin by more than 11 c/ℓ.