Petrol price barely changes in November, diesel gets bigger relief

Share current article via EmailShare current article via FacebookShare current article via TwitterShare current article via LinkedInMotoring StaffEnter fullscreen mode displaying this image.ExpandFuel prices show slight increases for petrol and a significant decrease for diesel this November following a temporary fuel levy cut by finance minister Enoch Godongwana. Picture: Supplied South African motorists will see a marginal reduction in petrol prices from Wednesday, November 4, despite the government’s temporary R1.50/litre fuel levy cut, while diesel prices will fall by more than R1/litre.

According to the latest adjustment announced by the department of mineral and petroleum resources, both grades of petrol will decrease by just 1c/l. This will take the price of 95 octane petrol in Gauteng to R30.24/l and 93 octane petrol to R29.87/l. At the coast, 95 octane petrol will cost R29.37/l.

Diesel users will receive more substantial relief, with the wholesale price of 0.05% sulphur diesel falling by R1.10/l and 0.005% sulphur diesel by R1.20/l.

The inland price of 0.05% sulphur diesel will reduce to R30.85 and that of 0.005% diesel to R31.60.

At the coast, 0.05% diesel will cost R29.98 and 0.005% will be R30.83.

The reductions come after finance minister Enoch Godongwana announced a temporary cut in the general fuel levy during his Medium-Term Budget Policy Statement on October 21. The measure reduces the levy by R1.50/l for petrol and R3/l for diesel.

The relief will apply from November 4 to December 1, when the general fuel levy will fall to 279c/l for petrol and 116c/l for diesel.

However, the benefit has been largely eroded in the case of petrol by higher international product prices, a weaker rand and an increase in the slate levy.

The department said international product prices for petrol, diesel and illuminating paraffin increased during the review period between October 2 and October 29.

The rand also weakened against the US dollar, averaging R16.55 over the period, compared with R16.21 previously. This added 37c/l to the basic fuel price of petrol and 48c to diesel.

A further factor was the increase in the slate levy, which is used to recover accumulated under-recoveries in the fuel pricing system. The levy rises by 48c/l to 135.84c/l for both petrol and diesel.

The maximum retail price of liquefied petroleum gas will also increase by R1.83/kg, taking the inland price to R39.64/kg and the coastal price to R36.39/kg.

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