Minister Gwede Mantashe Announces Fuel Price Adjustments Effective from 6 September 2023

by
1 min read
f u

The Minister of Mineral Resources and Energy, Mr. Gwede Mantashe, has announced fuel price adjustments to be implemented from the 6th of September 2023. These adjustments are based on current local and international factors that affect the cost of fuel in South Africa.

Monthly Adjustments Based on Various Factors

South Africa’s fuel prices are adjusted every month, taking into account international factors such as changes in crude oil and finished product prices, as well as local factors such as importation costs. The adjustments are necessary for reflecting the fluctuating costs of production and international market dynamics.

Primary Reasons for Fuel Price Adjustments

The fuel price adjustments are primarily based on fluctuations in crude oil prices, international petroleum product prices, the Rand/US Dollar exchange rate, the implementation of the Slate Levy, and the annual wages adjustment for the forecourt staff.

Factors Contributing to Higher Fuel Prices

During the review period, Brent Crude oil prices increased from 79.75 US Dollars to 84.78 USD due to tightening supply caused by production cuts by Saudi Arabia. International petroleum product prices also increased due to low inventories and refinery outages, affecting the production of blending components used in summer-grade petrol.

Diesel and paraffin prices increased due to lower shipments of Russia’s Urals crude oil and rising demand for middle distillates ahead of the winter season in the Northern Hemisphere. LPGas prices increased due to higher prices of Propane and Butane.

Implementation of the Slate Levy

The implementation of the Slate Levy resulted in a positive balance of R1.3 million at the end of July 2023, making no slate levy applicable in the petrol and diesel price structure for September 2023.

Wage Increase for Forecourt Employees

The Minister of Mineral Resources and Energy approved a 5.0 cents per litre (c/l) increase in the price structures of petrol to accommodate the wage increase for forecourt employees in line with the Motor Industry Bargaining Council (MIBCO) Agreement.

Fuel Price Adjustments for September 2023

Based on these factors, the fuel price adjustments for September 2023 are as follows:

  • Petrol (both 93 and 95 Octane): 171.00 c/l increase
  • Diesel (0.05% sulphur): 284.00 c/l increase
  • Diesel (0.005% sulphur): 276.00 c/l increase
  • Illuminating Paraffin (wholesale): 278.00 c/l increase
  • SMNRP for IP: 370.00 c/l increase
  • Maximum Retail Price of LPGas: 226.00 c/kg increase

Publication of Fuel Price Schedule

The fuel price schedule for different zones will be published on Tuesday, the 5th of September 2023. These fuel price adjustments aim to maintain a balance between affordability for consumers and sustainability for the industry.

Promoting Transparency in Decision-Making

By keeping the public informed about these changes, the government ensures transparency in its decision-making process and promotes awareness about the factors affecting fuel prices in South Africa.

A Russian-Spanish journalist and Cape Town native, channels his lifelong passion for South Africa into captivating stories for his local blog. With a diverse background and 50 years of rich experiences, Serjio's unique voice resonates with readers seeking to explore Cape Town's vibrant culture. His love for the city shines through in every piece, making Serjio the go-to source for the latest in South African adventures.

View all

Leave a Reply

Your email address will not be published.

f r
Previous Story

Acting Premier MaQueen Letsoha–Mathae Comforts Bereaved Families in Mangaung

c o
Next Story

Strengthening Collaborative Efforts for Enhanced Safety in Western Cape

Latest from Blog

history wine tourism

Discovering Wellington: A Blend of History and Scenic Beauty

Wellington, near Cape Town, is a beautiful town bursting with history and adventure. Known for its delicious wines and stunning views, it offers great spots like the scenic Bain’s Kloof Pass and the charming Wellington Wine Route. Visitors can explore the rich past at the Wellington Museum or enjoy the vibrant culture at the Breytenbach Centre. With lovely vineyards, tasty dining options, and thrilling outdoor activities, Wellington is a mustvisit destination that wraps its visitors in warmth and wonder.

accessibility urban transport

The Backbone of Urban Connectivity

Cape Town’s train stations, like Nyanga Junction, face big problems when it comes to helping people with disabilities travel easily. Broken lifts and steep stairs make it tough for those who use wheelchairs or have mobility challenges. Advocacy groups are pushing for change, highlighting the city’s need for better and more inclusive designs in public transport. While there are plans to fix some issues by 2025, many people are still waiting for the everyday travel improvements they deserve. This situation is not just about trains; it reflects a larger need for fairness and respect for everyone in society.

hiking cape town

Exploring Cape Town’s Scenic Trails: A Hiker’s Paradise

Cape Town is a hiker’s dream, filled with amazing trails that show off nature’s beauty. From the steep climb up Table Mountain, where breathtaking views await at the top, to the peaceful Kasteelspoort trail leading to the stunning “Diving Board,” each path offers its own adventure. Lion’s Head offers a magical experience, especially at sunrise or sunset, while Chapman’s Peak boasts dramatic coastal views. No matter which trail you choose, exploring Cape Town’s scenic beauty brings joy and connection to the great outdoors.

food culture nutrition awareness

Nourishing a Nation: The Role of Food in South African Culture and Health

Food is more than just something to eat in South Africa; it is a colorful part of life and culture. It brings people together, keeps traditions alive, and plays a big role in health. Every year, National Nutrition Week reminds everyone to eat healthier and make better food choices. This year’s theme, “Eat Right for a Better Life,” encourages South Africans to rethink their diets and focus on nutrition, helping to create a healthier nation together.

national teaching awards south africa education

Celebrating the Pillars of Education: The 24th National Teaching Awards

The 24th National Teaching Awards in South Africa celebrated the amazing work of teachers who shape young minds and build a better future. These awards remind us how important educators are in overcoming challenges and creating fair learning environments. President Ramaphosa highlighted the vital role teachers play, likening them to devoted gardeners who help students grow. Despite facing tough conditions, teachers remain dedicated, and the event encourages everyone to support and uplift these heroes of education for a brighter tomorrow.