BONUS – RUSTENBURG – The petrol price will increase by 4 cents per litre in November, says the Department of Energy. The price of Diesel (0.05% sulphur) meanwhile will increase by 23 cents per litre, while Diesel (0.005% sulphur) will increase by 27 cents per litre.
“South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors. International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including shipping costs,” the Department of Energy said in a statement.
The price for Petrol (93 Octane, ULP and LRP) and petrol (95 Octane, ULP and LRP) will increase by 4 cents per litre.
The department said one of the reasons for the fuel price adjustments is the Rand/US Dollar Exchange rate.
“The Rand weakened, on average, against the US Dollar (from 13.13 to 13.62 Rand per USD) during the period under review. This led to higher contribution to the Basic Fuel Prices (BFP) of petrol, diesel and illuminating paraffin by 22.12c/l, 22.19c/l and 22.07c/l respectively,” the department said.
The department said the average Brent Crude oil price increased slightly from 55.99USD to 56.59USD per barrel during the period under review.