The Department of Energy has published the changes to the petrol and diesel prices for August.
Both grades of petrol, 93 and 95, will increase by 11 cents per litre, the department said, with the diesel price decreasing by 13 cents and 14 cents per litre for 0.05% sulphur and 0.005% sulphur diesel, respectively.
Illuminating paraffin will be decreasing by 2 cents per litre, and LPGas will increase by 31 cents per kilogram.
The key reason for the price changes is due to the average international product prices for petrol, diesel and illuminating paraffin increasing during the period under review.
This was more pronounced for petrol, where international prices contributed to a 43 cents per litre increase – too much for the rand’s strength to counteract.
The rand appreciated against the US dollar during the period under review, on average, when compared to the previous period.
The average rand/US dollar exchange rate for the period 28 June 2019 to 01 August 2019 was 14.0709 compared to 14.6227 during the previous period.
This led to a lower contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 27.59 cents per litre, 28.56 cents per litre and 28.89 cents per litre, respectively.
The price changes will take effect on Wednesday, 7 August 2019.
Here is how fuel prices will change:
|Fuel (Inland)||July Official||August Official|
|0.05% Diesel (wholesale)||R14.46||R14.33|