It’s not good news for embattled motorists in South Africa as a larger-than-expected increase in fuel prices is set to take effect at midnight on Wednesday 2 August 2023.
Advertisement
The Department of Mineral Resources and Energy has released the official figures, revealing a substantial rise in petrol and diesel prices.
Petrol and Diesel Price Hike
The August fuel price increase will add 37 cents per litre for both Petrol 93 and Petrol 95, while diesel will see an increase of 72 cents per litre for Diesel 0.05% and 71 cents per litre for Diesel 0.005%.
This means that motorists will now have to pay R22.83 per litre for the top-grade petrol and R20.21 for 50 ppm diesel inland.
Along the coast, the prices will be slightly lower at R22.11 per litre for top-grade petrol and R19.81 for 50 ppm diesel.
Advertisement
Fuel Price Indicators
In addition to the petrol and diesel price hikes, illuminating paraffin will also see an increase of 71 cents per litre.
However, LPGAS will experience a decrease of 161 cents per kilogram.
Exchange Rate Impact
The recent appreciation of the South African Rand against the US Dollar has had a mitigating effect on the fuel price increase.
The exchange rate, which moved from 18.6 to 18.2 between 30 June 2023 and 27 July 2023, resulted in a lower contribution on petrol, diesel, and illuminating paraffin prices by 27.46 c/l, 26.64 c/l, and 27.11 c/l, respectively.
August Fuel Price Increase at the Pumps
To provide a clearer picture of the price changes, here are the fuel prices for both inland and coastal regions in July and August:
Advertisement
Inland:
– 93 Petrol: R22.06 (July) ➔ R22.43 (August)
– 95 Petrol: R22.46 (July) ➔ R22.83 (August)
– Diesel 0.05%: R19.49 (July) ➔ R20.21 (August)
– Diesel 0.005%: R19.81 (July) ➔ R20.52 (August)
– Illuminating Paraffin: R13.92 (July) ➔ R14.63 (August)
– LPGAS (per kg): R31.11 (July) ➔ R29.50 (August)
Coastal:
– 93 Petrol: R21.34 (July) ➔ R21.71 (August)
– 95 Petrol: R21.74 (July) ➔ R22.11 (August)
– Diesel 0.05%: R18.76 (July) ➔ R19.48 (August)
– Diesel 0.005%: R19.10 (July) ➔ R19.81 (August)
– Illuminating Paraffin: R13.00 (July) ➔ R13.71 (August)
– LPGAS (per kg): R28.53 (July) ➔ R26.92 (August)
Conclusion
Motorists in South Africa are facing the brunt of another fuel price increase in August 2023, with substantial hikes in petrol and diesel prices.
While the appreciation of the Rand has partially offset the impact, it still presents a significant burden for drivers across the country.
Read More On The Topic On TDPel Media
Share on Facebook «||»
Share on Twitter «||»
Share on Reddit «||»
Share on LinkedIn
BBNaija House Drama: Venita and Pere’s Explosive Confrontation Sends Shockwaves: BBNaija Drama Unfolds: Venita and Pere Lock Horns Advertisement The ongoing saga within the BBNaija house continues to captivate audiences as housemates display dwindling tolerance...
Nigerian Man’s Harrowing Kidnapping Ordeal in Abuja’s Lugbe Estate Sends Shockwaves, Urgent Alert Issued to Federal Capital Territory Residents: Resident’s Alarming Kidnapping Escape Sparks Urgent Warning in Abuja A Nigerian man, who narrowly escaped a kidnapping attempt in Lugbe, Abuja, issued a harrowing warning...
Bride’s Disappearance with R150k Lobola Sends Shockwaves Through Community: A wedding celebration turned into a scene of chaos and confusion as the bride mysteriously disappeared, taking with her a substantial lobola payment of R150,000....
Sophia Leone’s Unexpected Demise Sends Shockwaves Through Adult Film Community: Startling Loss: Adult Film Star Sophia Leone Discovered Unresponsive in Miami Home The adult film industry faces a tragic moment as 26-year-old Sophia Leone is...
South African Motorists Anticipate Significant Drop in Petrol Prices in June: …By Lola Smith for TDPel Media. As the international oil price continues to decline, South African motorists can look forward to positive news regarding petrol...
Price of Fuel reached its HIGEST in ten years, average price still $3.811 per gallon.: Gas Prices Reach a Decade-High Seasonal Level Gasoline prices in the United States have surged to their highest seasonal level in over ten years, bringing...
NNPC says fuel queues will normalize in the next couple of days, advises motorists to avoid panic buying: NNPC reassures Nigerians of adequate petrol supply The Nigerian National Petroleum Company (NNPC) Limited has reassured Nigerians of adequate petrol supply, saying that the fuel...
African Development Bank’s African Leaders for Nutrition lauded by African Union during Assembly declaration of 2022 as “African Union Year of Nutrition”: The African Union has recognized the African Leaders for Nutrition program, which is based at the African Development Bank (www.AfDB.org), for its progress in increasing...
Shockwaves in Jos South East as Ex-Lawmaker Links Deaths to Appeal Court Decision: Shocking Revelation on Live TV Former House of Representatives member, Dachung Musa Bagos, appeared on Channels TV Politics Today to claim that four people in...
Fuel price projections for November 2023 show some excellent news for petrol and diesel car owners: The latest fuel projections from the Central Energy Fund (CEF) for November 2023 show significant decreases in petrol and diesel prices. If market conditions remain...