These are the official prices of petrol and diesel for January 2023

Great news for diesel and petrol users in the new year, with prices coming down by R2.06 and R2.80 per litre in January 2023.

The Department of Energy has published the official petrol and diesel price changes for January.

The fuel price changes will come into effect on 4 January 2023.

In a statement released on Saturday, the following figures were cited for the different grades of fuel from 4 January 2023:

• Petrol- 93 and 95 ULP and LRP: R2.06 per litre decrease;
• Diesel- 0.05% and 0.005% sulphur: R2.68 and R2.08 decrease respectively;
• Illuminating paraffin (wholesale): R1.93 decrease; and
• Single Maximum National Retail Price (SMNRP) for illuminating paraffin: R2.58 decrease;
• LP Gas will increase by 82cents per kilogram.

The DMRE said the main reasons for the fuel price adjustments were an average Brent Crude oil price decrease from $88.77 per barrel to $85.08 per barrel during the period under review.

Oil prices also continue to drop, in response to fears of a global economic recession.

LP Gas increased due to higher propane and butane prices.

The Rand appreciated against the US Dollar during the period under review, on average, when compared to the previous period. The average Rand/US Dollar exchange rate for the period 02 December to 28 December 2022 was 17.2815 compared to 17.5338 during the previous period.

This led to a lower contribution to the Basic Fuel Price on petrol, diesel and illuminating paraffin by 15.27c/l, 18.81c/l and 19.20c/l, respectively.

The combined cumulative petrol and diesel Slate balances at the end of November 2022 amounted to a negative balance of R7.046 billion. In line with the provisions of the Self-Adjusting Slate Levy Mechanism, Slate Levy of 61.38c/l (decrease of 21.90c/l) has been implemented into the price structure s of petrol and diesel with effect from 4 January 2023.

Source: Business Tech, The Citizen, ALGOA FM, image from Twitter: @southafricanmag

Doctor Mahlaule

Doctor Mahlaule previously worked as a Freelance Journalist at Find-it SA where he was responsible for writing news articles and sharing them on social media platforms. Doctor Mahlaule holds a Diploma in Journalism, BA in Communication Science and a BA Honours in Media Studies. Doctor began his journey as a knowledge Management and Communications Intern at Zenex Foundation. He was responsible for support in event management, social media, website maintenance, writing and brand management. On weekends Doctor attends prison ministry and shares the scriptures with inmates at Krugersdorp prison and plays soccer in the afternoon on some weekends. He has a passion for reading and writing and enjoys going out with friends and socialising in his spare time. He has a one-year-old son and is planning on getting married soon. When asked about what keeps him going, he said: “My family keeps me going. I’m the man I am because I come from a loving home. I have a very supportive family who always encourages me to keep pushing hard.”

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