The South African Ministry of Energy issues an important decision regarding fuel prices
The South African Ministry of Energy has announced the latest fuel price adjustments for July 2021, which indicates a price hike in all areas.
This has resulted in a decrease in the contribution of base fuel prices for petrol, diesel and lighting paraffin by 10.12 cents/litre 9.78 cents/l and 9.48 cents/l respectively.
Price movement is usually affected by two main factors - international petroleum costs and movement in the rand/dollar exchange rate.
Average global product prices for petrol, diesel and lighting paraffin increased during the period under review and the rand against the US dollar during the period under review increased on average compared to the previous period.
The average exchange rate of the rand against the US dollar for the period from May 28, 2021 to July 1, 2021 was 13.9219 compared to 14,1110 during the previous period.
Fuel prices on Friday 10 July 2021:
Gasoline 95: extra 26 cents a liter;
Gasoline 93: an increase of 29 cents a liter;
0.05% diesel: an increase of 42 cents a liter;
0.005% diesel: an increase of 41 cents a liter;
Luminous paraffin: 36 cents a liter increase.