Plunging Rand Blamed For SA Record Fuel Hikes

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For the first time in South Africa’s history, the price of petrol will, from Wednesday, cost more than R20 per litre – a far cry from prices of less than two rand a litre when democracy was fresh and exciting.

Back then, in 1994, petrol only cost R1.76 per litre. Things have since changed and become dearer.

On Monday the Department of Mineral Resources and Energy said based on current local and international factors, the fuel prices for December 2021 will be adjusted as follows:
❖ Petrol (both 93 and 95 ULP & LRP): Eighty-one cents per litre (81.00 c/l) increase
❖ Diesel (0.05% sulphur): seventy-two point five cents per litre (72.50 c/l) increase 
❖ Diesel (0.005% sulphur): seventy-four point five cents per litre (74.50 c/l) increase 
❖ Illuminating Paraffin (wholesale): forty-two point two cents per litre (42.20 c/l) increase 
❖ SMNRP for IP: fifty-six cents per litre (56.00 c/l) increase 
❖ Maximum LPGas Retail Price: one hundred and eighty-three cents per kilogram (183.00 c/kg) increase

The department said the main reason for the fuel price adjustments was the depreciation of the rand against the US dollar. 

The rand depreciated, on average, against the US dollar (from 14.72 to 15.85 rand per USD) during the period under review when compared to the previous one.

Mineral Resources and Energy Minister Gwede Mantashe on Monday announced the monthly adjustment of fuel prices with effect from 1 December 2021.

The department said the fuel prices schedule for the different zones will be published on Tuesday, 30 November 2021.