Fuel prices for January 2021 will slightly increase compared to December 2020 prices as recently announced by the Minister of Mineral Resources and Energy, Gwede Mantashe.
Minister Mantashe cited the contribution of the Rand/US Dollar exchange rate, crude oil price increase and the prices for petroleum products prices as factors influencing the fuel price adjustments.
Compared to the previous period of December 2020, the Rand gained against the United States Dollar from R15.17 to R14.93 per 1 United States Dollar. Ths led to decreased contributions to the Basic Fuel Prices of illuminating Paraffin, Petrol and Diesel by 24.00 c/l.
Brent Crude Oil increased sharply from USD42.10 to USD49.20 (20 percent increase) per barrel. Crude oil prices continues to rise after the American Petroleum Institute announced crude oil exhaustion of about 4.785 million barrels by 25 December 2020.
These are the January fuel adjustments for 2021
- Petrol. 93 ULP and LRP increased by forty three cents per litre.
- Petrol. 95 ULP and LRP increased by forty cents per litre.
- Diesel. 0.05% sulphur increased by fifty five cents per litre.
- Diesel 0.005% Sulphur increased by fifty four cents per litre.
- Illuminating Paraffin wholesale price increased fifty five cents per litre.
- Liquid Petroleum Gas decreased forty four cents per kilogram.
The fuel price adjustments will be effective from 6 January 2020.