The price of fuel is expected to increase sharply on Wednesday 6 January 2021.
Prices for all grades of fuel will rise this month, with petrol climbing between 40 cents and 43 cents per litre, and diesel increasing by 54 and 55 cents per litre.
The official changes are as follows:
Petrol 95: increase of 40 cents per litre;
Petrol 93: increase of 43 cents per litre;
Diesel 0.05%: increase of 55 cents per litre;
Diesel 0.005%: increase of 54 cents per litre;
Illuminating Paraffin: increase of 55 cents per litre.
The movement in prices is affected by two main factors – international petroleum costs, and the movement in the rand/dollar exchange rate.
The increases are due to the Rand’s appreciation against the Dollar which led to lower contributions to the basic fuel price.
Higher international prices of petroleum products and Brent Crude Oil also contributed to the increases.