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There were several international and local factors that contributed to the increases in petrol and diesel prices
The Department of Mineral Resources and Energy (DMRE) has announced the price of both 93 and 95 octane petrol will increase from Wednesday, 4 October 2023.
The department’s spokesperson Robert Maake said 93 octane will increase by R1.08 per litre and 95 octane petrol will increase by R1.14 per litre.
The price of diesel (0.05% sulphur) increases by R1.96 per litre, while diesel with 0.005% sulphur increases by R1.93 per litre.
Meanwhile, illuminating paraffin will cost R1.51 per litre more, while the price of LPGas increases by R2.50 per kilogramme.
Reason for petrol increase
DMRE spokesperson Robert Maake said there were several international and local factors that contributed to the increases in petrol and diesel prices.
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International petroleum prices
The increase was due to higher oil prices during the period under review, which led to higher prices of petroleum products. There is a shortage of diesel in the market globally, Maake added.
Rand/dollar exchange rate
“The rand weakened against the US Dollar and contributed around 22 to 26 cents per litre,” Maake said.
Slate levy
Maake added a slate levy of around 30.7 cents per litre is implemented on the price structures of petrol and diesel in line with the self-adjusting slate mechanism rules.
“The LP gas is increasing mainly due to higher prices of Propane and Butane, as well as a higher freight rate during the period under review,” Maake said.
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