Fuel prices are going up on Wednesday 4 January 2017. Take a look at what you will be paying for fuel this month…
South African motorists are in for a bumpy ride in 2017 and to kick off the New Year, fuel prices are going up this week. The Department of Energy has released fuel price adjustments for January 2017 and moderate fuel price increases will take effect as of 4 January.
The main contributing factors for the fuel price increase include the poor Rand/Dollar exchange rate and the higher price of crude oil based on an agreement by OPEC members to slash production by as much as 1.2 million barrels per day. Similarly, Russia and non-OPEC producers have also cut crude oil production by 600 000 barrels per day. The cumulative result has put crude oil prices on an upward trajectory and is therefore impacting negatively on local fuel price forecasts.
According to the Automobile Association (AA), “It is too early to know at what price level oil supply will match demand in the wake of the OPEC decision to cut production". The AA also predicts a tough year ahead for motorists with a number of fuel price increases expected during the year.
The price of petrol 93 ULP/LRP will increase by 50 cents per litre while petrol 95 ULP/LRP will increase by 48 cents per litre.
The price of diesel 0.05% Sulphur will increase by 39 cents per litre while diesel 0.005% will increase by 37 cents per litre.
You can expect to pay the following for fuel in January 2017:
Reef: 93 Unleaded – R13.09 per litre / 93 LRP – R13.09 per litre / 95 Unleaded – R13.33 per litre
Coast: 93 Unleaded – R12.71 per litre / 95 LRP – R12.85 per litre / 95 Unleaded – R12.85 per litre
Note: Wholesale diesel prices quoted, prices may vary between retailers.
Reef: Diesel 0.05% - R11.43 per litre / Diesel 0.005% - R11.45 per litre
Coast: Diesel 0.05% - R11.03 per litre / Diesel 0.005% - R11.07 per litre
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