3 October 2023
By: Alani Janeke
The prices of diesel and petrol are rising again in October, although the increases are lower than expected.
While grain farmers are preparing to start harvesting their crops in the winter rainfall region and getting ready to plant in the summer rainfall region, fuel prices are set to increase significantly in October for the second consecutive month.
Dawie Maree, head of information and marketing at FNB Agriculture, said in mid-September that based on the international oil price and the exchange rate, the price of a litre of 93-octane petrol could rise by R1,15 and that of 95-octane by R1,21. A litre of 50ppm diesel would be R1,94 more expensive, and a litre of 500ppm diesel R2,06 pricier.
The Department of Minerals and Energy announced today that the price of a litre of 95-octane petrol will increase by 83c on October 4, and a litre of 93-octane petrol will be 77c more expensive.
A litre of 50ppm diesel will cost R1,66 more, and a litre of 500ppm diesel will be R1,62 more expensive. This increase follows a rise of about 14% in diesel prices in August and September.
Regarding the economy in general, Maree said higher fuel prices could lead to an increase in food prices and consequently in the inflation rate.
More expensive fuel also means that it becomes increasingly costly for businesses to maintain alternative energy sources such as generators during extended load-shedding periods.
