Diesel prices set for huge increase

Fuel prices are set to increase on Wednesday, with both grades of petrol going up by 37 cents, while diesel with 0.05% sulphur going up a massive 72 cents a litre and diesel with 0.005% sulphur by 71 cents a litre.

There is however relief for LP gas users with a decrease of R1.61 per kg.

Various factors have been highlighted as the reasons behind the increase.

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 30 June 2023 to 27 July 2023 was 18.2801 compared to 18.6825 during the previous period.

This led to a lower contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 27.46 c/l, 26.64 c/l and 27.11 c/l respectively, according to a statement from the Minerals and Energy Department.