The official fuel prices for October have been announced and it’s once again good news for petrol and bad news for diesel.
THE DEPARTMENT of Mineral Resources and Energy has announced the official fuel price adjustments that come into effect on Wednesday, October 05, and as expected petrol is coming down while diesel sees a small increase.
According to the Department, the price of 95 Unleaded petrol will decrease by R1.02 per litre this month, while 93 Unleaded is coming down by 89 cents. The price of 500ppm diesel, on the other hand, is set to go up by 10 cents per litre, while lower-sulphur 50ppm will see a 15 cent hike. Illuminating paraffin is set to decrease by 61 cents.
Unfortunately, the price cuts are not enough to bring petrol to below the R20 mark. From Wednesday a litre of 95 Unleaded petrol will cost R21.71 at the coast and R22.36 in the inland regions, where 93 Unleaded will now cost R22.06.
The savings per tank will vary from around R30 in a smaller car to about R56 in a larger vehicle.
For instance, putting 35 litres into the tank of a Volkswagen Polo will cost R760 at the coast and R772 inland (93 ULP). Filling a medium-sized car like a Toyota Corolla with 50 litres will cost R1,085 and R1,103 respectively.
The slight diesel price increases will push the wholesale price of 50ppm up to R23.67 at the coast and R24.30 inland, but keep in mind that retail prices will be higher than that and as they vary between outlets. It pays to shop around.
The savings could have been bigger
Were it not for the weaker rand, October’s savings would have been even significantly bigger.
In fact, petrol would have come down by around R1.50 and diesel would have seen a decrease in the region of 50 cents, were the lower international oil prices not offset by the weaker rand that struggled on the back of record load shedding and rising international interest rates.
The local currency depreciated from an average of R16.70 to the US dollar to R17.55 during the period that determined October’s fuel prices.
