The new year started with a petrol and diesel price increase which took effect on Wednesday January 1. At the coast, a litre of 95 petrol, which cost R20.68 in December, will now cost R20.80 a litre. Picture: UNSPLASH FREE DOWNLOADS
Petrol prices increased on New Year’s Day, so holidaymakers will have to dig deeper into their pockets as they make their way back home.
The Department of Mineral and Petroleum Resources (DMPR) announced an increase in the cost of all grades of petrol and diesel as well as LP gas, and a decrease in the cost of paraffin.
The price adjustments for fuel, paraffin and gas are as follows:
At the coast, a litre of 95 petrol, which cost R20.68 in December, now costs R20.80 a litre; a litre of petrol 95 ULP, increased from R21.47 in Gauteng, to R21.59 a litre.
“The average Brent Crude oil price increased slightly from US$72.70 to US$72.78 during the period under review. The main contributing factors are the OPEC+ decision not to increase production in December and continued oversupply by non-OPEC producers amid low economic growth globally,” the department said in a statement released to the media.
“The average international product prices of petrol followed the increasing trend of crude oil while the prices of middle distillates decreased slightly because of higher inventories for the winter season in the northern hemisphere.”
The department added that these factors led to higher contributions to the basic fuel prices of petrol and diesel and lower contributions to illuminating paraffin.
“The Rand depreciated on average, against the US Dollar (from 17.93 to 18.11 Rand per USD) during the period under review when compared to the previous one. This led to higher contributions to the basic fuel prices of petrol, diesel and illuminating paraffin,” the department said.
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