Hefty Petrol and Diesel Prices Released for October 2023

The official petrol and diesel price adjustments for October have been released by the Department of Mineral Resources and Energy.

Motorists should be prepared for a significant increase in prices starting from Wednesday, October 4th.

In October, the prices of petrol will rise by R1.08 to R1.14 per litre, while diesel prices will experience an increase ranging from R1.94 to R1.97 per litre.

During the review period, the average international prices for petrol, diesel, and illuminating paraffin all saw an increase.

Additionally, the Rand weakened against the US Dollar, on average, compared to the previous period, with the average Rand/US Dollar exchange rate from September 1st, 2023, to September 28th, 2023, being 18.9853, as opposed to 18.6731 in the prior period.

Consequently, this resulted in higher contributions to the Basic Fuel Prices for petrol, diesel, and illuminating paraffin, with increments of 24.17 c/l, 26.63 c/l, and 26.59 c/l, respectively.

Regarding the administration of the Basic Fuel Prices, adjustments are made to the differentials between 95 and 93 petrol grades at the beginning of each quarter.

These adjustments have led to changes in the price differentials between these two grades.

As of the end of August 2023, the combined cumulative Slate balances for petrol and diesel amounted to a negative balance of R3.519 billion.

Following the Self-Adjusting Slate Levy Mechanism provisions, a Slate Levy of 30.70 c/l will be incorporated into the price structures of petrol and diesel, effective from October 4th, 2023.

Here’s how these price changes will manifest at the fuel pumps: