500ppm

-15.10

50ppm

-13.91

ULP95

-20.72

ULP93

-16.49

IP

-15.78

The Minister of Energy, Mr. Jeff Radebe, announces the adjustment of fuel prices based on the current international factors with effect from 06 February 2019.

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 importation costs, e.g. shipping costs.

The main reasons for the fuel price adjustments are due to:

  1. (1) The contribution of the Rand/US Dollar exchange rate
    The Rand appreciated, on average, against the US Dollar (from 14.30 to 13.90 Rand per USD) during the period under review when compared to the previous one. This lowered the contribution to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 9.24 c/l, 10.85 c/l and 10.97 c/l respectively.
  2. (2) The prices of crude oil
    The average Brent Crude oil price increased from 58.00 USD to 60.00 USD per barrel during the period under review. The Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC producer, Russia, are leading efforts to cut supply.
  3. (3) Import prices of Petroleum Products
    The international prices of all the petroleum products increased on average during the period under review. This increased the contribution on the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 17.00 c/l, 12.50 c/l and 5.67 c/l respectively.

The current fuel price adjustments are due mainly to the international factors, namely, the increase in crude oil prices.

Based on current local and international factors, the fuel prices for February 2019 will be adjusted as follows:
Petrol (93 Octane, ULP and LRP): 7.00 c/l increase;
Petrol (95 Octane, ULP and LRP): 7.00 c/l increase;
Diesel (0.05% sulphur): 1.00 c/l increase;
Diesel (0.005% sulphur): 2.00 c/l increase;
Illuminating Paraffin (wholesale): 5.00 c/l decrease;
SMNRP for IP: 7.00 c/l decrease;
Maximum LPGas Retail Price: 11.00 c/kg decrease

The fuel prices schedule for the different zones will be published on Tuesday, 5th
February 2019.

The Minister of Energy, Mr. Jeff Radebe, announces the adjustment of fuel prices based on the current international factors with effect from 07 November 2018.

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 importation costs, e.g. shipping costs.

The main reasons for the fuel price adjustments are due to:

  1. (1)  The contribution of the Rand/US Dollar exchange rate

    The Rand appreciated, on average, against the US Dollar (from 14.49 to 14.79 Rand per USD) during the period under review when compared to the previous one. This led to lower contribution to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 16.94c/l, 18.73c/l and 18.66c/l respectively.

  2. (2)  The prices of crude oil

    The average Brent Crude oil price increased from 78.89USD to 81.03USD per barrel during the period under review. The main contributing factors were the (a) uncertainty ahead of the US sanction on Iran and (b) ongoing trade tension between the USA and China which has sparked concerns about the short to medium term oil demand.

Media Statement – Fuel prices Adjustments for November 2018 Page 1

  1. (3)  Import prices of Petroleum Products

    The international prices of petrol decreased slightly and diesel increased on average during the period under review. The price differential between petrol and diesel widened during the current fuel pricing review period due to (a) concerns of regional supply in the US South-East which boosted North-Western European and US East coast diesel prices and (b) the Northern Hemisphere approaching winter season.

  2. (4)  Self-adjusting Slate Levy Mechanism Rules

    In line with the Self-Adjusting Slate Levy Mechanism Rules, the Slate Levy on petrol and diesel will be 21.92 c/l effective from the 7th November 2018. The current combined Slate Account balance for petrol and diesel amounted to minus R2.2.00 billion which is below the threshold of minus R250 million

The current fuel price adjustments are due mainly to the international factors, namely, the stronger Rand and higher crude oil prices. Geopolitical tensions are having a very negative impact on crude oil prices and consequently refined product prices globally.

Based on current local and international factors, the fuel prices for November 2018 will be adjusted as follows:

Petrol (93 Octane, ULP and LRP): unchanged; Petrol (95 Octane, ULP and LRP): .unchanged; Diesel (0.05% sulphur): 47.92 c/l increase; Diesel (0.005% sulphur): 50.92 c/l increase; Illuminating Paraffin (wholesale): 28.00 c/l increase; SMNRP for IP: 37.00 c/l increase;

Maximum LPGas Retail Price: 61.00 c/kg decrease
The fuel prices schedule for the different zones will be published on Tuesday, 06

November 2018.

Media Statement – Fuel prices Adjustments for November 2018 Page 2

Enquiries: This email address is being protected from spambots. You need JavaScript enabled to view it. Lerato Ntsoko
Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 012 406 7799 or Cell: 082 459 2788

Johannes Mokobane

Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 012 406 7481 or Cell: 082 766 3674

MEDIA STATEMENT

MINISTER OF ENERGY, MR JEFF RADEBE, ANNOUNCES

ADJUSTMENT OF FUEL PRICES EFFECTIVE FROM

01 AUGUST 2018

The Minister of Energy, Mr. Jeff Radebe, announces the adjustment of fuel prices for August 2018 based on current local and international factors with effect from 01 August 2018.

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 importation costs, e.g. shipping costs.

The main reasons for the fuel price adjustments are due to

1)  The contribution of the Rand/US Dollar exchange rate

The Rand depreciated, on average, against the US Dollar (from 13.29 to 13.50 Rand per USD) during the period under review when compared to the previous one. This led to a higher contribution to the Basic Fuel Prices (BFP) on petrol, diesel and illuminating paraffin by just over 10.00c/l. The market continued to be worried about what the growing differences on trade between the USA and China will have on the global economy.

(2)  Import prices of Petroleum Products

The international prices of petroleum products decreased on average during the period under review. This was in line with the slightly lower crude oil prices. The prices of petrol increased in the international market due to demand in the Northern Hemisphere as they are in their summer (driving) season.

Media Statement – Fuel prices Adjustments for August 2018 Page 1

(3) The slight decrease in the prices crude oil

The average Brent Crude oil price decreased slightly from 74.26USD to 72.15USD per barrel during the period under review. The oil markets started falling since last week as OPEC and Russia increased production. The commitments from Russia and Saudi Arabia to increase production and improved supply from Libya continue to weigh on oil prices. Furthermore, reports that China will increase infrastructure spending helped to lessen fears that the U.S – China tensions will reduce the country’s demand for oil.

Based on current local and international factors, the fuel prices for August 2018 will be adjusted as follows:

  • Petrol (93 Octane, ULP and LRP): 1.00 c/l increase;
  • Petrol (95 Octane, ULP and LRP): 1.00 c/l increase;
  • Diesel (0.05% sulphur): 4.00 c/l decrease;
  • Diesel (0.005% sulphur): 4.00 c/l decrease;
  • Illuminating Paraffin (wholesale): 4.00 c/l increase;
  • SMNRP for IP: 5.00 c/l increase;
  • Maximum LPGas Retail Price: 17.00 c/kg increase

The fuel prices schedule for the different zones will be published on Tuesday, 31 July 2018.

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MEDIA STATEMENT - FOR RELEASE ON 31 AUGUST 2018

RELEASED BY CEF (SOC) LTD ON BEHALF OF THE DEPARTMENT OF ENERGY ENQUIRIES: MRS LERATO NTSOKO 082 459 2788 / MR J MOKOBANE 082 766 3674

1. PRICE CHANGES TO BE EFFECTED ON WEDNESDAY 05 SEPTEMBER 2018 IN GAUTENG (INCREASE) / DECREASE

Product:

  • Both Grades of Petrol 93 & 95 (ULP & LRP) = (5.00) cents per litre increase in retail price
  • Both Grades of Diesel 0.05% and 0.005% Sulphur = No change 
  • Illuminating Paraffin (Wholesale) = No change
  • Illuminating Paraffin (SMNRP) = No change
  • Maximum Retail Price for LPGAS = No change

2. TEMPORARY FUEL PRICE INTERVENTION MEASURE

The Minister of Energy approved the urgent temporary fuel price intervention measure, except for the increase in paragraph 4.

3. ECONOMIC FACTORS AFFECTING THE UNIT OVER/UNDER-RECOVERIES FOR THE PERIOD 27 JULY 2018 TO 30 AUGUST 2018

The average international product prices of Petrol and Diesel and Illuminating Paraffin increased during the period under review.

The Rand depreciated against the US Dollar during the period under review, on average, when compared to the previous period. The average Rand/US Dollar exchange rate for the period 27 July 2018 to 30 August 2018 was 13.9430 compared to 13.4713 during the previous period.

4. INCREASE IN THE RETAIL MARGIN APPLICABLE TO PETROL

The Minister of Energy has approved a retail margin increase of 4.9 c/l to be effected in the retail price structures of all octane grades of petrol with effect from 05 September 2018. This increase is necessary to accommodate the wage increases of pump attendants, cashiers and administrative staff at service stations.

5. SLATE LEVY

In line with the Self-Adjusting Slate Levy Mechanism Rules, the Slate levy on petrol and diesel will remain at 0.00 c/l with effect from 05 September 2018.

6. SINGLE MAXIMUM NATIONAL RETAIL PRICE FOR ILLUMINATING PARAFFIN (SMNRP)

The Single Maximum National Retail Price for the period 05 September 2018 to 02 October 2018 will remain unchanged compared to 1 233.0 c/l for the period 01 August 2018 to 04 September 2018.

7. MAXIMUM LPGAS REFINERY GATE PRICE

The maximum refinery gate price will be R 9 748.20 per metric ton (541.03 c/l), excluding VAT, for the period 05 September 2018 to 02 October 2018.

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