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    Increase in Petrol, Diesel Prices To Add To Consumer Woes

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    Jacaranda FM News
    The Minister of Mineral Resources and Energy, Mr Gwede Mantashe, announced fuel price increases effective July 7, 2021. International crude oil and product prices increased in the review period, while the Rand declined against the US Dollar, leading to higher fuel prices. Specifically, petrol prices will rise by 26-29 cents per liter, diesel by 41-42 cents, and illuminating paraffin by 36 cents based on local and international factors affecting South Africa's imported fuels. The fuel price schedule for different zones will be published on July 6.

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    Increase in Petrol, Diesel Prices To Add To Consumer Woes

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    Jacaranda FM News
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    The Minister of Mineral Resources and Energy, Mr Gwede Mantashe, announced fuel price increases effective July 7, 2021. International crude oil and product prices increased in the review period, while the Rand declined against the US Dollar, leading to higher fuel prices. Specifically, petrol prices will rise by 26-29 cents per liter, diesel by 41-42 cents, and illuminating paraffin by 36 cents based on local and international factors affecting South Africa's imported fuels. The fuel price schedule for different zones will be published on July 6.

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    Motorists are expected to pay more for both grades of petrol and diesel from Wednesday.

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    Increase in petrol, diesel prices to add to consumer woes

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    The Minister of Mineral Resources and Energy, Mr Gwede Mantashe, announced fuel price increases effective July 7, 2021. International crude oil and product prices increased in the review period, while the Rand declined against the US Dollar, leading to higher fuel prices. Specifically, petrol prices will rise by 26-29 cents per liter, diesel by 41-42 cents, and illuminating paraffin by 36 cents based on local and international factors affecting South Africa's imported fuels. The fuel price schedule for different zones will be published on July 6.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    2K views2 pages

    Increase in Petrol, Diesel Prices To Add To Consumer Woes

    Uploaded by

    Jacaranda FM News
    The Minister of Mineral Resources and Energy, Mr Gwede Mantashe, announced fuel price increases effective July 7, 2021. International crude oil and product prices increased in the review period, while the Rand declined against the US Dollar, leading to higher fuel prices. Specifically, petrol prices will rise by 26-29 cents per liter, diesel by 41-42 cents, and illuminating paraffin by 36 cents based on local and international factors affecting South Africa's imported fuels. The fuel price schedule for different zones will be published on July 6.

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    MEDIA STATEMENT

    MINISTER OF MINERAL RESOURCES AND ENERGY, MR GWEDE


    MANTASHE, ANNOUNCES ADJUSTMENT OF FUEL PRICES
    EFFECTIVE FROM THE 7th OF JULY 2021

    The Minister of Mineral Resources and Energy, Mr Gwede Mantashe, announces the
    adjustment of fuel prices based on current local and international factors with effect
    from the 7th of July 2021.

    South Africa’s fuel prices are adjusted on a monthly basis, informed by international
    and local factors. International factors include the fact that South Africa imports both
    crude oil and finished products at a price set at the international level, including
    importation costs, e.g. shipping costs.

    The main reasons for the fuel price adjustments are due to:

    1. Crude oil prices


    The average Brent Crude oil price increased from 66.00USD to 73.00USD per
    barrel during the period under review. The higher oil prices are mainly due
    inventory decline as reported by the International Energy Agency and concerns
    about the spread of the latest coronavirus variant globally. However, the market is
    optimistic that OPEC may decide to ease the oil production cuts during its next
    meeting.

    Media Statement – Fuel prices Adjustments for July 2021 Page 1


    2. International petroleum product prices
    The movement in international refined petroleum product prices followed the
    increasing trend in crude oil prices. This led to higher contributions to the Basic
    Fuel Price of petrol by 36.74 c/l and 39.81 c/l, diesel by 52.33 c/l and 51.63 c/l and
    illuminating paraffin by 45.76 c/l.

    3. Rand/US Dollar exchange rate


    The Rand appreciated slightly, on average, against the US Dollar (from 14.11 to
    13.92 Rand per USD) during the period under review when compared to the
    previous one. This led to lower contributions to the Basic Fuel Prices of petrol,
    diesel and illuminating paraffin by about 10.00 cents per litre.

    Based on current local and international factors, the fuel prices for July 2021 will be
    adjusted as follows:
    ❖ Petrol (both 93 ULP and LRP): twenty nine cents per litre (29.00 c/l) increase
    ❖ Petrol (both 95 ULP and LRP): twenty six cents per litre (26.00 c/l) increase;
    ❖ Diesel (0.05% sulphur): forty two cents per litre (42.00 c/l) increase;
    ❖ Diesel (0.005% sulphur): forty one cents per litre (41.00 c/l) increase;
    ❖ Illuminating Paraffin (wholesale): thirty six cents per litre (36.00 c/l) increase;
    ❖ SMNRP for IP: forty eight cents per litre (48.00 c/l) increase;
    ❖ Maximum LPGas Retail Price: sixty three cents per kilogram (63.00 c/kg)
    increase; and

    The fuel prices schedule for the different zones will be published on Tuesday, the 6th
    of July 2021.

    Enquiries: mediadesk@dmre.gov.za
    Mr Natie Shabangu – natie.shabangu@dmre.gov.za / 073 852 1922
    Mr Johannes Mokobane - johannes.mokobane@dmre.gov.za / 082 766 3674
    Ms Lerato Ntsoko - lerato.ntsoko@dmre.gov.za / 0824592788

    Media Statement – Fuel prices Adjustments for July 2021 Page 2

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