Petrol to Increase by a Whopping R1,46 – Diesel R1,44 from Wednesday – 2 March

The Energy Department has announced that both grades of petrol, 93 and 95 octane will increase by R1,46 per litre from Wednesday 2 March.  

The prices of diesel (0.05% sulphur) increases by R1.44 per litre, Diesel with (0.005% sulphur) increases by R1.48 per litre while illuminating paraffin will increase by R1.21 per litre.

The price of LP gas increases by 70 cents per kg.

The Energy Department said the main reason for the fuel price adjustments is the average Brent Crude oil price increased from 93.00USD 96.47USD during the period under review. 

The department said the Rand also appreciated slightly, on average, against the US Dollar (from 15.51 to 15.23) Rand per USD during the period under review when compared to the previous one.

“The escalating crisis between Russia and Ukraine which led to a surge in crude oil prices amid supply fears.Subsequent sanctions on Russia by the USA and UK which have contributed to the increase in crude oil prices. The Organisation of Petroleum Exporting Countries (OPEC) and Non-OPEC members are still not meeting production targets agreed leading to lower supplies of crude oil and an increase in prices.”

The department said there is an increase in the Slate levy. 

“An increase of 15.36c/l (i.e., from 30.70 c/l to 46.06c/l) will be implemented into the price structures of petrol and diesel in line with the Self-Adjusting Slate Mechanism rules effective from the 2nd of March 2022.”

South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors.