Cape Town:The Minister of Mineral and Petroleum Resources, Gwede Mantashe, has announced the upcoming fuel price adjustments in South Africa, to take effect at midnight. These adjustments reflect both local and international economic factors, with a notable decrease expected in diesel prices.
According to South African Government News Agency, the adjustments for November 2026 are as follows Petrol 93 and Petrol 95 (ULP & LRP) will both see a decrease of 1.00 cent per litre. Diesel prices will experience a more significant decrease, with Diesel (0.05% sulphur) dropping by 109.82 cents per litre and Diesel (0.005% sulphur) by 119.82 cents per litre. In contrast, illuminating paraffin will increase by R2.75 per litre wholesale, and the Single Maximum National Retail Price (SMNRP) for illuminating paraffin will rise by R3.66 per litre. The maximum retail price of LPGas will increase by 183.00 cents per kilogram, and 208.00 cents per kilogram in the Western Cape.
The Department of Mineral and Petroleum Resources noted that the average Brent crude oil price increased from US$101 to US$108 during the period under review. This rise is attributed to the uncertainty arising from the Middle East conflict, including recent attacks on Saudi Arabian infrastructure, as well as higher freight and insurance costs due to ship-to-ship transfers.
Average international prices for petrol, diesel, and illuminating paraffin also saw an increase, influenced by factors such as tight global supply, higher seasonal demand in the Northern Hemisphere, and the ongoing Russia/Ukraine conflict. Despite efforts by the G7 to enhance global diesel supply, the US waiving sanctions on Russia, and Russia lifting export restrictions, these factors contributed significantly to the Basic Fuel Prices of petrol, diesel, and illuminating paraffin, with increases of 80.41 cents, 94.22 cents, and 225.23 cents per litre respectively.
Additionally, propane and butane prices increased during the review period. The Rand depreciated against the US Dollar, averaging from 16.21 to 16.55 Rand per USD, contributing to higher Basic Fuel Prices of petrol, diesel, and illuminating paraffin by 36.93 cents, 49.00 cents, and 49.26 cents per litre, respectively.
