There will be relief for some consumers from tomorrow when the price of all grades of diesel and illuminating paraffin decrease.
Petrol and LP Gas consumers, however, will have to dig deeper into their pockets as prices of the two are expected to increase.
The new prices announced by the Department of Mineral Resources and Energy are as follows:
- All grades of petrol will increase by at least 59c
- Diesel 0.05% sulphur will decrease by some R1.57
- Diesel 0.005% will decrease by R1.52
- Wholesale illuminating paraffin decreases by 57c
- The Single Maximum National Retail Price for illuminating paraffin will go down by 57c
- Maximum LP Gas Retail Price will increase by 95c
The department explained the factors behind the increase in petrol prices.
“Petrol prices increased due to higher demand by motorists travelling for the thanksgiving season in the US amid limited supply as a result of the Russia-Ukraine conflict. Increased demand resulted in a decrease of gasoline inventories and higher prices.
“Refiners are producing more middle distillates, such as diesel, illuminating paraffin and gas to meet extra winter demand in the Northern Hemisphere and consequently producing less petrol.
“These factors led to higher contributions to the basic fuel price of petrol by 64.87 cents per litre and lower contributions to diesel and illuminating paraffin by 122.47 c/l and 9.09 c/l, respectively,” the department said.
Higher gas prices have been driven by the increase in propane and butane prices. – SAnews.gov.za
