The price of petrol will increase by 53c per litre from midnight tomorrow, 1 February. Diesel increases by between 79.84c and 78.84c per litre. Illuminating Paraffin increases by 101c per litre. LPGas will cost 124c less per kilogram.
The Department of Mineral Resources and Energy says the average international product prices for Petrol, Diesel and Illuminating Paraffin increased during the period under review.
The Rand appreciated against the US Dollar during the period under review, on average, when compared to the previous period.
The average Rand/US Dollar exchange rate for the period 31 December 2021 to 27 January 2022 was 15.5081 compared to 15.9196 during the previous period.
This led to a lower contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 25.98 c/l, 26.24 c/l and 26.19 c/l respectively.
The combined cumulative petrol and diesel Slate balances at the end of December 2021 amounted to a negative balance of R3.490 billion.
In line with the provisions of the Self-Adjusting Slate Levy Mechanism, a Slate Levy of 30.70 c/l (decrease of 13.16 c/l) will have to be implemented into the price structures of petrol and diesel
with effect from 02 February 2022.