FILE PHOTO: PIXABAY
Petrol and diesel will cost a little bit more in December after the Department of Energy announced fuel price increases on Tuesday.
This is the second fuel price increase since May this year.
On Wednesday, both grades of petrol will increase by 17 cents per litre, while the price of diesel will rise by between 55 and 56 cents, depending on the sulphur content.
Meanwhile, LP Gas is set to increase by R1,72 cents per litre.
"The reasons for these adjustments are because the price of Brent crude oil decreased slightly on average during the period under review from 73.28 to 72.70 US dollars per barrel, " said the department’s Robert Maake.
"The average international prices of petrol decreased slightly, and diesel increased due to more demand in Europe and America in the Northern Hemisphere in general for the winter season. The rand depreciated against the dollar during the period under review from R17.53 to R17.93."
Maake added that the minister had also approved the annual margin adjustment of a net increase of 15.4 cents per litre on petrol and 8.88 cents per litre on diesel and illuminating paraffin in line with the regulated accounting system guidelines.
"The minister also approved the annual adjustment of the element in the maximum retail price structures of LP Gas in line with CPI of 6% and PPI of 6.7%. That resulted in an increase of 95 cents per kilogram in coastal areas and 115 cents in the inland market for LP gas.
"The slate levy remains unchanged at 0 cents per litre in the price structures of petrol and diesel."
