South African motorists are facing a sharp jump in fuel prices from Wednesday, with petrol, diesel, paraffin and LPGas all becoming more expensive.
The biggest increases will be felt by petrol users, with 95 unleaded petrol rising by R3.33 a litre, while 93 petrol will increase by R3.12.
Diesel prices will rise by between R2.84 and R3.24 a litre, depending on the sulphur content.
The Department of Mineral and Petroleum Resources (DMPR) said the increases were largely driven by a surge in international oil prices.
The average price of Brent crude rose from $87.89 to $101 a barrel during the period under review.
The department attributed the increase to continued US-Iran tensions, uncertainty over oil shipments through the Strait of Hormuz, higher shipping costs and declining global inventories.
International prices for refined fuel products also increased amid supply shortages and lower global stock levels.
The factors added 329.07 cents per litre to the Basic Fuel Price of petrol, 280.17 cents to diesel and 357.23 cents to illuminating paraffin.
Paraffin will increase by R3.58 a litre at wholesale level, while its single maximum national retail price will rise by R4.77.
LPGas prices will increase by 42 cents, with consumers in the Western Cape facing a 48-cent increase.
The stronger rand against the US dollar provided some relief, but only marginally reduced the Basic Fuel Price contributions.
The department said the rand’s performance lowered the contribution by 0.17 cents per litre for petrol, 0.22 cents for diesel and 0.21 cents for illuminating paraffin.
The increases are expected to add further pressure to household budgets and transport costs as motorists adjust to the higher prices from Wednesday.
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