The Department of Energy has announced the shifts in diesel and petrol prices for October 2015.
As predicted throughout the month, 93 EPU/LRP petrol will decrease by 2 cents per litre, while 95 EPU/LRP petrol will increase by 4 cents.
Diesel will increase by a sizable 53 cents and 51 cents per litre for 0.05% and 0.005% sulphur, respectively.
The wholesale price of illuminating paraffin will increase by 50 cents.
The changes will take place at midnight on 6 October, 2015, for 7 October 2015 onwards.
The following table breaks down the changes and what the new pump prices will be at inland and coastal stations.
New petrol prices for October 2015
|Fuel||Increase/(Decrease) in cents||New Inland Price||New Coastal Price|
|Illuminating Paraffin (Wholesale)||50||R7.12||R7.12|
The marginal changes in the petrol price are due to the flat oil price and large fluctations in the strength of the rand versus the dollar over the course of the past month.
The rand saw ups and downs across the month of September, hitting new highs above R14 to the dollar at the start and at the end of the month.
This took its toll on the country – as seen in the petrol price, which could have dropped by as much as 30 cents a litre if it had performed better, according to the Automobile Association (AA).
Diesel’s big 51-53 cent climb would have been limited to around only 20 cents, the group said.
The weakening of the Rand against the US Dollar increased the contribution to the Basic Fuels Price on petrol, diesel and illuminating paraffin by 32.00 c/l, 30.89 c/l and 30.27 c/l respectively, the department of energy said.
A recent ranking by Bloomberg showed that while South Africans don’t pay the most for petrol in the world, our fuel bill eats up a bigger portion of our annual salaries than any other country.