The Department of Mineral and Petroleum Resources has announced that the price of petrol 93 will increase by 55c a litre and the price of petrol 95 by 52c a litre, with effect from July 2.

The price of diesel (0.05% sulphur) will increase by 82c a litre and the price of diesel (0.005% sulphur) by 84c a litre.

Further, the illuminating paraffin price will increase by 67c a litre. The maximum retail price of liquefied petroleum gas (LPG) by 57c/kg, expect in the Western Cape, where the price will increase by R1.90/kg.

During the assessment period to determine the changes tot he basic fuel prices, the average Brent crude oil price increased to $69.36, as a result of the recent geopolitical tension in the Middle East. 

The average international petroleum product prices followed the increasing trend of crude oil prices, resulting in higher contributions to the basic fuel prices of petrol, diesel and illuminating paraffin by 68.45c, 100.48c and 83.20c a litre, respectively. 

During the assessment period, the rand also appreciated, on average, against the dollar to R17.90, which led to lower contributions to the basic fuel prices of petrol by more than 15c a litre and diesel and illuminating paraffin by over 16c a litre.

Meanwhile, the higher increase in the maximum retail price of LPG in the Western Cape, compared with the rest of the country, is the result of a 14% increase in supply cost recovery on the price of LPG that is imported through the Port of Saldanha Bay, in the Western Cape, for a period of 24 months.