The price of petrol is going up again – and this time it’s pushing the retail cost of the fuel above R20/l for the first time in South Africa’s history.
The department of mineral resources & energy announced on Monday that from Wednesday, 1 December, the price of both unleaded and lead-replacement petrol will rise by 81c/l.
This will push the price of petrol inland, including in Gauteng, to R20.13/l (for 93 octane) and R20.35/l (for 95 octane).
The cheapest petrol in South Africa – 93 octane, sold at the coast – now costs R19.61/l.
Diesel, which is used extensively in the logistics industry and has a direct bearing on inflation in the broader economy, sees a 72.5c/l increase in the wholesale price for 0.05% sulphur content and of 74.5c/l for 0.005% sulphur content, also from this Wednesday.
The department blamed increases in international oil prices, coupled with a weakening of the rand during the month, for the second spike in prices in as many months. Government sets the regulated prices monthly, with the changes coming into force on the first Wednesday of every month.
Energy minister Gwede Mantashe also approved a 17.84c/l annual increase in the margin for petrol and 8.2c/l for diesel, with both of these contributing to the huge hike in fuel prices. The so-called “slate levy” on petrol and diesel has also been hiked.
In November, the petrol price was hiked by R1.21/l. – © 2021 NewsCentral Media
