Motorists to feel pinch as the fuel prices increase for August.
By Lehlohonolo Lehana.
Department of Mineral Resources and Energy (DMRE) has published the official fuel price adjustments for August 2023.
The unleaded petrol (both 93 and 95) will be hiked by 37c a litre, while diesel will increase by 72c a litre.
The latest hikes will bring the price of 95 unleaded petrol to R22.83 a litre in Gauteng, compared to R25.42 a year ago.
The wholesale price of diesel will now be R20.21 a litre, compared to R24.52 in August last year.
The department said, the average international product prices of petrol, diesel and Illuminating paraffin followed the increasing trend of crude oil prices during the period under review.
These led to higher contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 63.59 c/l, 99.09. c/l and 98.71c/l, respectively. However, LPGas decreased due to lower prices of Propane and Butane."
The department said the Rand appreciated on average, against the US Dollar (from 18.68 to 18.26 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 27.64 c/l, 27.36 c/l and 27.10 c/l, respectively."
The cumulative slate balance on petrol and Diesel as at the end of June 2023 had a positive balance of is R2,69 million. Therefore, there is no slate levy applicable in the petrol and diesel price structure for August 2023," the department said.