Record fuel price hikes: what you’ll pay from October 7 - TimesLIVE

South African motorists are facing record-high fuel prices from Wednesday, with petrol rising by more than R3/l and diesel by up to R3.24/l.

Petrol of 95 octane will increase by R3.33/l, while 93 petrol will rise by R3.12/l. Diesel with 0.05% sulphur will increase by R2.84/l, and 0.005% sulphur diesel by R3.24/l.

The increases, announced by the department of mineral and petroleum resources, take effect on October 7 and follow a sharp rise in international petroleum product prices during the review period from August 28 to October 1, driven by military tensions in the Middle East.

The department said the average international product prices for petrol, diesel and illuminating paraffin increased during the period.

The increases would have been even higher without a marginally stronger rand. The average rand/dollar exchange rate during the period was R16.21.

A further factor is the country’s fuel-price stabilisation mechanism. The combined cumulative petrol and diesel slate balance at the end of August stood at a negative R10.456bn, triggering an increase in the slate levy from 83.28c to 87.66c per litre.

This adds 4.38c/l to both petrol and diesel prices from October 7.

The latest increases mean the inland price of 95 petrol will rise to R30.25/l, while 93 petrol will cost R29.88/l in Gauteng.

The wholesale price of 0.05% sulphur diesel will rise to R31.95/l and 0.005% sulphur diesel to R32.80/l.

At the coast, 95 octane petrol will cost R29.38/l, 0.05% diesel will be R31.08/l, and 0.005% diesel will cost R32.03/l.

The price of illuminating paraffin will also rise by R3.58/l at the wholesale level, while the maximum retail price for LPG increases by 42c/kg.