The holiday has already begun for many, and will have to pay more for petrol and less for diesel from Wednesday.
Petrol increases by R0-11 per liter for 93 as well as for 95 degrees, but diesel decreases in price by R0-18 and paraffin decreases by Ro-21 for December month.
Economic experts say the rise in gasoline prices, and the slight drop in diesel and paraffin prices, could be attributed to the weak Rand, which just failed to return to its levels two years ago.
The Department of Energy has published the final petrol price changes for October 2019.
According to the department, the large difference between the prices of the 93 and 95 grades of petrol is because of a recalculation in the basic fuel price (BFP) for each category.
The changes are as follows:
Petrol 93 will decrease by 4 cents per litre
Petrol 95 will increase by 18 cents per litre
Diesel will increase by 25 cents per litre (both grades)
Illuminating paraffin will increase by 25 cents a litre.
In terms of the working rules to administer the BFP, the differentials between 95 and 93 petrol grades are adjusted at the beginning of each quarter. The BFP differentials between 95 and 93 petrol grades have changed and therefore there are different price adjustments between the two grades.
The price increase for most grades of petrol and diesel is largely a result of higher international petroleum product costs, arisin
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Motorists will have to pay more from today to fill their car’s tank. The main reason for the increase is due to the weakening of the Rand and informed observers believe the trend could also be expected in October.
Petrol’s price rises by 11 cents per liter, and diesel by 25 cents per liter.
The announcement was made by the Minister of Energy, Gwede Mantashe, saying the price of domestic paraffin is increasing by 24 cents a liter.
The latest data from the Central Energy Fund (CEF) points to a flat month in August for petrol prices – though there may be good news for diesel drivers.
At mid-month, the group is showing a small increase in both grades of petrol for August, with pump prices expected to go up 7 cents per litre for 95 octane, and 4 cents per litre for 93 grade.
Diesel, however, is currently showing an over recovery of 20 cents per litre, which means at least some motorists may be paying less next month.
The flat rate in petrol prices is due a reversal in trends for both international petroleum prices and the rand/dollar exchange rate.
For the first two weeks in July, the rand has strengthened against the dollar, contributing to a 25-27 cents per litre drop in both the petrol and diesel prices.
This has been undercut by the movement in the international product prices – at least for petrol – which are contributing to a 30 to 33 cents per litre
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The spike in the fuel price on Wednesday and growing unrest in oil-producing Venezuela have done little to assuage fears that the petrol price is set to continue its upward trajectory for most of this year.
However, economists believe the oil price is unlikely to rise much above $80 a barrel in 2019, and that the fuel price will retreat towards the end of the year. In fact, global estimates indicate an average Brent crude oil price in the mid-$60s for the year.
The price of petrol in South Africa increased last week by 54c per litre while diesel went up by one cent as the oil price neared $75 per barrel as it continued to rise since starting the year at just over $50/barrel.
The inland price of 95 unleaded petrol increased to R16.67 and 93 unleaded to R16.50, while, at the coast, 95 unleaded increased to R16.03 and 93 unleaded to R16.07. The prices continue to edge closer to the October 2018 all-time high of R17.08.
The recent increase wa
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A spokesperson for the AA said last weekend that calculations indicate that the price of this fuel will fall further during January 2019.
The expectation is that petrol may drop about R1.19 and diesel prices may decrease by R1.44 while lamp oil (paraffin) is expected to fall by R1.32.
Experts say that price is still too high and should fall by at least another R4.20, but the eagerness of the regime makes the motorist a the most convenient target to exploit .
This report does not necessarily reflects the opinion of SA-news.
Read the original article in Afrikaans on Die Vryburger