Faizel Patel – 02/03/2021
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 65 cents per litre from Wednesday, 3 March.
The prices of different grades of diesel (0.05% sulphur) increases by 54 cents per litre and (0.005% sulphur) by 56 cents per litre while illuminating paraffin will increase by 47 cents per litre.
The price of LP gas increases by 87 cents per kg.
The Energy Department says the main reason for the fuel price adjustments is due to the rand appreciating on average, against the US Dollar (from 15.09 to 14.76 Rand per USD) during the period under review when compared to the previous one.
“The average Brent Crude oil price increased from 53.10USD to 60.10USD per barrel during the period under review. Crude oil prices continued to soar due the extreme cold weather conditions in the United States of America and throughout Europe. It resulted in the shutdown of about one-fifth of the USA refining capacity and closed oil and gas production facilities due to heavy snowfalls.”
South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors