Fuel price increase in South Africa next week

Fuel price increase in South Africa next week

The price of fuel – petrol, diesel and other related products – is set to increase in South Africa next week Wednesday, the Department of Energy said yesterday. The Pretoria-based ministerial government cited volatile crude oil prices, international product prices, the rand-dollar exchange rate and the adjustment to the ‘Slate Levy’ on petrol and diesel, among others, as the main reasons for the increase.

The rand bit the dust against the dollar last week, hitting a R9/per dollar mark for the first time in many years. Analysts said the increase will hit already stressed South African consumers hard in the pocket, and push the country’s inflation to the edge.

It is believed that taxi associations will adjust taxi fares in line with the fuel increase – a trend analysts say may worsen poverty and inequality, thus fuelling unhappiness and frustration among the masses.

South Africa is the world’s second most unequal society after Brazil.

Based on the average unit over recoveries and the reduction in the slate levy, the following fuel price increases will be implemented on 06 February 2013:

·         Petrol (95 grades): 41.0 c/l, increase

·         Petrol (93 grades): 41.0 c/l, increase

·         Diesel (0.05 sulphur): 17.8 c/l, increase

·         Diesel (0.005 sulphur): 17.8 c/l, increase

·         IP wholesale: 26.0 c/l, increase

·         SMNRP for IP: 34.0 c/l, increase

·         Maximum Retail Price for LPGas: 73.0 c/kg, increase

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