The Department of Mineral Resources and Energy has released the official fuel price adjustments for August 2023. These adjustments will come into effect on August 2, at midnight.
This means that on Wednesday, both grades of unleaded petrol (93 and 95) will be hiked by 37c a litre. While diesel will increase by 72c a litre.
Illuminating paraffin will also increase by 71c per litre.
This will push Cape Town residents to pay R21.71 per litre of petrol, compared to the R21.34 in July. Diesel (0.05% sulphur) in the city will now cost R19.48 per litre. Diesel 0.00% sulphur will go for R19.81 a litre.
Some can find a gentle reprieve with the maximum retail price of LPGas decreasing by 161c per kilogram.
This is how the price will reflect at the pumps:
The country’s fuel prices are adjusted each month, based on international and local factors.
International factors includes the fact that South Africa imports both crude oil and finished goods at a price set against the international level.
The Rand, according the Department, appreciated on average against the US Dollar during the review period, when compared to the previous one.
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The average international product prices of petrol, diesel and illuminating paraffin “followed the increasing trend of crude oil prices during the period under review”, said the Department.
These factors have led to higher contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 63.59 c/l, 99.09. c/l and 98.71c/l, respectively.
The Department explains that LPGas decreased because of the lower prices of Propane and Butane.
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