The Department of Mineral Resources and Energy on Friday confirmed the final fuel adjustments for November 2022, as reported by The South African website.
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They show a big jump in prices for both petrol and in particular, diesel.
The changes will be implemented as of midnight on Tuesday, 1 November into Wednesday morning.
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Prices adjustments as follows:
|Petrol 93||increase of 51 cents per litre|
|Petrol 95||increase of 51 cents per litre|
|Diesel 0.05%||increase of 143 cents per litre|
|Diesel 0.005%||increase of 144 cents per litre|
|Illuminating Paraffin (wholesale)||increase of 77 cents per litre|
|LPGAS||decrease of 98 cents per kilogram|
According to BusinessTech, the average international product prices for petrol, diesel and illuminating paraffin decreased during the period under review.
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The rand depreciated against the US dollar during the period under review, on average, when compared to the previous period.
The average rand/US dollar exchange rate for the period 30 September to 27 October 2022 was 18.1099 compared to 17.5547 during the previous period.
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This led to a higher contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 37.55 c/l, 51.43 c/l and 48.02 c/l, respectively.
Negative balance for cumulative petrol and diesel
The combined cumulative petrol and diesel Slate balances at the end of September 2022 amounted to a negative balance of R8.120 billion.
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In line with the provisions of the Self-Adjusting Slate Levy Mechanism, a Slate Levy of 70.14 c/l (decrease of 13.14 c/l) has been implemented into the price structures of petrol and diesel with effect from 1 November 2022.
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How the price changes will reflect at the pumps (Inland and Coastal):
|0.05% diesel (wholesale)||R24.06||R25.49|
|0.005% diesel (wholesale)||R24.31||R25.75|
|0.05% diesel (wholesale)||R23.41||R24.84|
|0.005% diesel (wholesale)||R23.67||R25.11|
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