Fuel price increase signals shift in markets

First fuel price increase in six months signals shift in market conditions

The Department of Mineral Resources and Energy confirmed the adjustments are effective from midnight on Tuesday 5 November impacting motorists this Wednesday, 6 November 2024.

The South African Petroleum Retailers Association (SAPRA), a proud member of the Retail Motor Industry Organisation (RMI), announces a slight increase in fuel prices today, following five months of consecutive decreases. The Department of Mineral Resources and Energy confirmed the adjustments are effective from midnight on Tuesday 5 November impacting motorists this Wednesday, 6 November 2024.

Henry van der Merwe, Chairman of SAPRA, stated, “After an extended period of relief, this slight increase reflects current shifts in the global and local fuel markets. While we always advocate for stability, these fluctuations are an inherent part of the broader energy landscape, and we remain committed to supporting consumers and businesses through this period.”

Fuel Price Adjustments for November 2024:
Petrol 93 ULP & LRP: 25.00 cents per litre increase
Petrol 95 ULP & LRP: 25.00 cents per litre increase
Diesel 0,05% Sulphur: 21.00 cents per litre increase
Diesel 0,005% Sulphur: 20.00 cents per litre increase

Illuminating Paraffin:
21.00 cents per litre increase (wholesale)
28.00 cents per litre increase in Single Maximum National Retail Price (SMNRP)
LPG: 36.00 cents per kilogram increase

Van der Merwe highlighted, “Increased fuel prices can put strain on both businesses and consumers, especially at a time when households and industries alike are navigating financial challenges. Fuel cost changes affect everything from production and transportation expenses to consumer purchasing power, making it crucial to remain resilient as we adapt to market dynamics.”

SAPRA encourages consumers to consult the fuel pricing templates on the SAPRA website (www.sapra.co.za) or reach out to local depots or distributors for zone-specific delivery prices.
Van der Merwe concludes, “While increases are never ideal, SAPRA is committed to continued transparency and advocacy on behalf of our retailers and the consumers they serve.”

By Gugulethu Kgongoane and originally appeared in the Sedibeng Ster