Steep fuel price hikes in South Africa

Helena Wasserman - Petrol prices in South Africa will jump today amid a supply crunch worldwide, the department of mineral resources and energy.The price of both 95 and 93 unleaded petrol will be hiked by R1.27 a litre, while diesel will go up by between 30c and 32c.Illuminating paraffin will increase by 13c a litre, while the maximum retail price for LP gas will be hiked by R5.22 a kilogramme. In Gauteng, the price of a litre of 95 unleaded petrol will increase to R22.95, while it will increase to R22.30 on the coast. This is still lower than December's price of R23.45 in Gauteng. A year ago, 95 petrol retailed for R21.60 in Gauteng.The Gauteng diesel price will reach R21.62 today, from R18.87 a year ago.Fuel prices are largely determined by the oil price, as well as the rand - as oil is priced in US dollar.The rand took a big hit in February, as the USdollar rallied due to expectations that US interest rates will still be hiked by large margins. The local currency weakened from R17.04/US$ at the start of the month to R18.40 on Monday.The average Brent crude oil price decreased slightly, from US$83 per barrel to US$82.14.Petrol prices are increasing at a higher rate than diesel because of lower inventory levels globally and closures of refineries in some countries for seasonal maintenance, the department said in a statement. The impact of the EU sanctions on diesel imports from Russia was already priced in, it added. – Fin24

Steep fuel price hikes in South Africa

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Namibian Sun 2026-06-17

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Steep fuel price hikes in South Africa

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Namibian Sun 2026-06-17

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