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Sharp Increases in Petrol & Diesel Prices from Wednesday

Faizel Patel – 01/02/2021

(Twitter: @FaizelPatel143)

Motorists will have to dig deeper into their pockets after the  Energy Department announced that the price of both grades of petrol will increase by 81 cents per litre from Wednesday, 3 February.

The prices of different grades of diesel (0.05% sulphur) increases by 58 cents per litre and (0.005% sulphur) by 59 cents per litre while illuminating paraffin will increase by 59 cents per litre.

The price of LP gas increases by R1,93 per kg.

The Energy Department says the main reason for the fuel price adjustments is due to the Rand depreciating on average against the US Dollar (from 14.93 to 15.09 Rand per USD) during the period under review when compared to the previous one.

“This led to higher contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by more than 5.00 c/l. The average Brent Crude oil price increased from 49.20USD to 53.10USD per barrel during the period under review. Crude oil prices continued to climb after Saudi Arabia took a unilateral decision to reduce production by one million barrels per day.”

South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors

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