Home Business South Africa Faces Fuel Price Hike in October 2023

South Africa Faces Fuel Price Hike in October 2023

by Central News Reporter
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Petrol prices

Fuel Hike

Mineral Resources and Energy Minister, Gwede Mantashe, recently announced an upcoming increase in fuel prices for October 2023. The adjustment affects all grades of fuel, illuminating paraffin, and gas.

Here is a breakdown of the expected changes in fuel prices:

1. Petrol 93: R1.08 increase per litre
2. Petrol 95: R1.14 increase per litre
3. Diesel 0.05% sulphur: R1.96 increase per litre
4. Diesel 0.005% sulphur: R1,937.70 increase per litre
5. Illuminating Paraffin: R1.51 increase per litre
6. Single Maximum National Retail price for illuminating paraffin: R2.02 increase per litre
7. Maximum retail price for LP Gas: R2.50 increase per kilogram

The specific fuel prices for different zones will be published on Tuesday, October 3, 2023.

In response to the price hike, Minister Mantashe emphasized that the department is actively looking for ways to mitigate the impact of high prices in the long run. One potential solution mentioned is the exploration and development of national oil and gas reserves.





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