• South African motorists should brace for the third petrol and fuel price hike in as many months.
• October will see prices of 93 and 95 grades of petrol increase by more than R1 per litre, and prices of diesel near a R2 hike per litre.
• The Department of Mineral Resources and Energy (DMRE) says that international price increases and the continued weakening of the Rand against the Dollar have led to this hike.

No mercy for motorists as the latest statement about petrol and fuel prices in South Africa from the Department of Mineral Resources and Energy (DMRE) indicates that yet another large price hike is hitting tanks from midnight on Wednesday 4th October.

October petrol and fuel price hike according to the DMRE:

• Petrol 93 – Increase of R1.08 per litre,
• Petrol 95 – Increase of R1.14 per litre,
• Diesel 0.05 – Increase of R1.97 per litre,
• Diesel 0.005 – Increase of R1.94 per litre,
• Illuminating Paraffin (wholesale) – Increase of R1.51 per litre,
• Illuminating Paraffin (SMNRP) – Increase of R2.02 per litre,
• Liquid Petroleum Gas – Increase of R2.50 per litre.

For the third month in a row since July, South Africa will face increases in the price of petrol and diesel. October will see all fuel prices increase by more than R1, with Liquid Petroleum Gas seeing a near R3 price hike.

September also saw steep increases in petrol and diesel prices, which will now be compounded even further. The DMRE says that economic factors from overseas continue to influence local prices, in particular, the average international prices for petrol, diesel and illuminating Paraffin all increased in the review period.

Further depreciation of the Rand against the Dollar, from R18.67 to R18.99, which also led to South Africa paying more for fuels as the Basic Fuel Prices increased by 24.17 cents per litre for petrol, 26.63 cents per litre for diesel and 26.59 cents per litre for Paraffin.

In September, lower shipments of crude oil from Russia’s Urals caused an international price hike that bled down into South Africa as well. The international situation continues to weigh on South Africa’s imports of fuels. August saw increasing demand for crude oil from India and China and tightening supply from Saudi Arabia which saw increases that month.

July stands as the last time motorists received respite in the form of a price decrease. You can read the full statement from the DMRE below.

[Image – CC 0 Pixabay]