NO PETROL PRICE INCREASE BUT DIESEL, PARAFFIN AND GAS GO UPDate: 2018-11-05
Although government is keeping the petrol price unchanged, diesel, gas and paraffin will see increases.
Earlier on Monday, the department of energy (DOE) released its amended fuel prices, saying in a statement that there would be no change to either grade of petrol but diesel, paraffin and gas would receive hikes.
500ppm diesel will increase 47.92 c/l while 50ppm diesel receives a 50.92 c/l increase. The wholesale price of illuminating paraffin will increase 28 c/l and the single maximum national retail price for illuminating paraffin will increase 37 c/l. Maximum LP Gas retail price will increase 61.00 c/kg.
Motorist of petrol-driven vehicles may have been looking forward to a drop in price after the Automobile Association (AA) last week predicted a decrease as the DOE uses the oil price and recently moderated rand exchange rate to set adjustments to the basic fuel price. They did expect diesel and illuminating paraffin increases though.
On November 7, 2018, the government will implement a Slate levy worth 21.92c/l on both petrol and diesel to manage the Slate account balance that has dipped below its threshold.
In Parliament last week, Energy Minister Jeff Radebe said his department is working towards concluding its research on the possibility of fixing a cap to the price of unleaded fuel by January 2019.