Brace yourselves, people, fuel is going up in November

Motorists face more hikes in the prices of petrol and diesel in November, the department of mineral resources and energy has confirmed.

Both grades of petrol — 93 and 95 — will rise by 51c/l from Wednesday, while diesel will increase by a whopping R1.43/l for 0.05% sulphur and R1.44/l for 0.005% sulphur. Illuminating paraffin goes up by R1.03/l.

The price hikes have been attributed to the increase in international fuel prices and the depreciation of the rand against the US dollar in the period under review. The average rand/US dollar exchange rate for September 30 to October 27 was R18.11 compared with R17.55 during the previous period. This led to a higher contribution to the basic fuel prices of petrol, diesel and illuminating paraffin by 37.55c/l, 51.43c/l and 48.02c/l respectively.

It means from midnight on Tuesday the inland retail prices of 95 unleaded and 93 unleaded will respectively increase to R22.87/l and R22.57/l. The wholesale prices of 0.05% and 0.005% diesel increase to R25.49/l and R25.74/l respectively.