Menu
CBN-banner

The adjustment of fuel prices, effective from 6 September

Featured

Fuel - [https://www.gps.com.au/wp-content/uploads/sites/21/2016/05/fuel-tracker.jpg] Fuel - [https://www.gps.com.au/wp-content/uploads/sites/21/2016/05/fuel-tracker.jpg]

The Department of Energy informs the public of the fuel price adjustments for September 2017. South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors.

International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including shipping costs.

The main reasons for the fuel price adjustments in August 2017 are:

(a)    Rand/US Dollar Exchange rate

The Rand depreciated, on average, against the US Dollar during the period under review.

(b)    The prices of Petroleum Products in the International Markets

The international prices of petroleum products increased on average during the period under review. The main contributing factors were; (a) the increase in the crude oil prices and the weaker Rand, (b) Massive floods caused by the storm which forced several refineries to close along the U.S. Gulf Coast; and (c) Harvey, the most powerful hurricane to hit Texas in more than 50 years, caused large-scale flooding and forced closure of Houston port and several refineries. These resulted in the supply shortage in the market which led to higher prices of petroleum products

(c)    Annual Wages Increase for Forecourt Staff

The Minister of Energy, Ms Mamoloko Kubayi has approved an increase in the retail margin of petrol of 4.6cpl to cater for the salary increase of 8.0% for pump attendants and 7.0% for cashiers and 7.5% for other administration staff in line with the Motor Industry Bargaining Council (MIBCO) agreement of 18 November 2016. This money must be ring-fenced for the wages of the forecourt staff. 

Based on current local and international factors, the fuel prices for September 2017 will be adjusted as follows:

  • Petrol (95 Octane, ULP and LRP): 67.00 c/l increase;
  • Petrol (93 Octane, ULP and LRP): 67.00 c/l increase
  • Diesel (0.05% sulphur): 44.00 c/l increase;
  • Diesel (0.005% sulphur): 44.00 c/l increase;
  • Illuminating Paraffin (wholesale): 49.00 c/l increase;
  • SMNRP for IP: 65.00 c/l increase;
  • Maximum LPGas Retail Price: 86.00 c/kg increase

 

back to top

Industries

About us

Follow us

Follow us @BusinessNewsCT

BusinessNewsCT Cape Town’s property market is so whack – a parking bay is selling for R1.1m - https://t.co/ZUoTztLmAC https://t.co/FlQoGqRVMq
16hreplyretweetfavorite
BusinessNewsCT A look at the new electric Jaguar I-Pace SUV coming to South Africa - https://t.co/Tbk3RnXRz4 https://t.co/rv4p5Vqf6Q
16hreplyretweetfavorite
BusinessNewsCT Wiese loses billionaire status as Steinhoff continues massive sell-off - https://t.co/N6tBqwyL6E https://t.co/PdoK7Prh5C
16hreplyretweetfavorite