Lerato Mbhiza
THE Minister of Mineral Resources and Energy, Gwede Mantashe, announced the increase in fuel prices with effect from Wednesday.
Based on current local and international factors, the fuel prices for September 2023 will be adjusted as follows, the Department said in a statement.
Both grades of petrol will increase by R1.71 per litre from Wednesday.
Diesel will increase by R2.76 (0.05% sulphur) and R2.84 (0.005% sulphur) per litre.
The price of illuminating paraffin will increase by R2.78c at wholesale and R3.70c per litre at retail level.
LP Gas increased by R2.26 per kilogram.
The Department’sspokesperson Robert Maake said the price increases were as a result of higher international oil prices and a weaker rand.
“The average Brent Crude oil price increased from 79.75 US dollars to 84.78 during the period under review because of tightening supply resulting from production cuts by Saudi Arabia,” Maake said.
Maake also added that high prices of petrol are as a result of low inventories and refinery outages, which affected the production of blending components used in summer grade petrol, making it more expensive.
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