Fuel hikes this week
Tuesday 3 October 2023
South Africans will once again have to tighten their belts as the fuel prices are set to increase on Wednesday.
Mineral Resources and Energy Minister, Gwede Mantashe, announced the adjustment of fuel prices for all grades of fuel, illuminating paraffin and gas.
The fuel prices for October 2023 will be adjusted as follows:
• Petrol 93 will increase by R1,08 per litre
• Petrol 95 will increase by R1,14 per litre
• Diesel 0.05% sulphur will increase by R1,96 per litre
• Diesel 0.005% sulphur will go up by R1,93.70 per litre
• Illuminating Paraffin will increase by R1,51 per litre
• The Single Maximum National Retail price for illuminating paraffin will increase by R2,02 per litre
• Maximum retail price for LP Gas will increase by R2,50 per kilogram
“The department believes that exploration and development of national oil and gas reserves could help moderate the impact of high prices in the long term,” Mantashe said.
Based on the current numbers, ULP95 petrol in Gauteng will rise above R25/l and at the coast above R24/l for the first time since August last year.
“These increases are going to hit all consumers hard, and they come at a time when most South Africans are feeling extreme financial pressure. It remains concerning, however, that in the face of these increases, government remains silent on its plans, if there are any, on a way forward to deal more effectively with fuel price increases,” notes the Association.
The AA again advises motorists to keep their vehicles in good mechanical condition, and their tyres inflated to manufacturer’s specifications to ensure optimal fuel usage. Minimising trips where possible, using air conditioners sparingly, and not overloading the vehicle are other measures owners can take to decrease fuel consumption.
“As the end of the year approaches many people will be making plans for their annual vacations. Part of that planning must include budgeting properly for fuel expenses now and including some extra finds to offset possible additional increases that may occur in November and December,” concludes the AA.
