Fuel prices aren’t the good news motorists expected
The price of petrol will drop by 13c/l on December 2, but drivers of diesel vehicles will be hit with a 20c/l increase.
There will also be a 29c/l increase in the price of illuminating paraffin, according to the Central Energy Fund (CEF).
Last week the AA reported the price of petrol was slated to fall by around 27c/l while diesel’s price increase was expected to be contained to around 13c/l, based on unaudited month-end fuel price data released by the CEF.
However, motorists’ pockets have been harder hit after mineral resources and energy minister Gwede Mantashe announced a 14.3c/l increase in the annual margin adjustments on petrol and a 7.86 c/l increase on diesel and illuminating paraffin wholesale prices with effect from Wednesday.
Explaining other economic factors behind the latest price shifts, the CEF reported that international prices for petrol had decreased while the cost of diesel and illuminating paraffin increased during the period under review. The rand also appreciated against the US dollar, from R15.63 compared to R16.46.
Fuel prices are adjusted on the first Wednesday of every month.