Petrol prices to increase in October

The retail price of 93 octane petrol and 95 octane petrol will increase by 21 cents and 23 cents per litre respectively on Wednesday October 3‚ the Department of Energy announced on Friday (28 September 2012).

The price increases between 95 and 93 octane petrol differ due to the quarterly application of the octane price differentials‚ it said.

The price of 0.05% sulphur diesel will cost 39.16c per litre more while that of 0.005% sulphur diesel will rise by 40.16c per litre.

During the period under review‚ the average international product prices of petrol‚ diesel‚ and illuminating paraffin increased.

The average rand/dollar exchange rate weakened when compared to the previous period‚ the CEF reported. The average rand/dollar exchange rate for the period August 31 to August 27 was 8.3075 compared to 8.2758 during the previous period.

Petrol 95 ULP octane in Gauteng will now cost R12.20 a litre‚ while at the coast it will cost R11.85 per litre.

The Minister of Energy on August 24 approved that the retail margin on all grades of petrol be increased by 3.5c per litre from 91.8c per litre to 95.3c per litre with effect from 5 September.

This increase‚ the department said‚ was necessary in order for service station operators to finance the wage increases for service station pump attendants and cashiers agreed upon at the Motor Industry Bargaining Council (MIBCO) in September 2010.

This increase in the retail margin to accommodate wage increases is ring-fenced and should be excluded from determining rental fees between service station operators and service station investors‚ the department said.

The single maximum national retail price for illuminating paraffin will increase by 44c per litre to R8.67 per litre.

The maximum retail price for liquid petroleum gas will decrease by three cents per kilogram.

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Petrol prices to increase in October