Good news and not-so-good news for South African motorists this October! According to an announcement by the Minister of Mineral and Petroleum Resources, Gwede Mantashe, petrol prices are set for a slight increase, while diesel users can breathe a sigh of relief as prices are decreasing.
Petrol Price Hike
From midnight, expect to pay a little more at the pump for petrol. The price of 93 unleaded petrol will increase by 1c/l, and 95 unleaded petrol will see a slightly larger increase of 8c/l.
Diesel Price Drop
The silver lining comes in the form of lower diesel prices. Diesel (0.05% sulphur content) will decrease by 10c per litre, while diesel with 0.005% sulphur content will decrease by 8c per litre. Illuminating paraffin will also see a price drop of 11c.
Why the Change?
These monthly price adjustments are driven by fluctuations in international fuel prices and the Rand's performance against the US dollar. The Rand has appreciated slightly, moving from R17.73/$ to R17.49/$ , which has helped to mitigate larger price increases.
Forecourt Workers' Wage Increase
It's also important to note that the petrol price structures include a 6.1 c/l increase (from 299.5c/l to 305.6c/l) to accommodate the wage increase for forecourt employees. This is in line with a pay increase agreement signed on August 23rd.
New Fuel Prices (per litre):
- Gauteng:
- 93 Unleaded: R21.48
- 95 Unleaded: R21.63
- Diesel 0.05%: R19.34
- Diesel 0.005%: R19.39
- Coastal:
- 93 Unleaded: R20.69
- 95 Unleaded: R20.80
- Diesel 0.05%: R18.51
- Diesel 0.005%: R18.63
So, fill up strategically and stay informed about the latest fuel price updates!