Here is the official fuel prices for October

The Department of Mineral Resources and Energy has published the official petrol and diesel price changes for October.

Reflecting warnings published throughout September, motorists are in for a hefty price hike from Wednesday, 4 October.

Petrol prices will be going up by R1.08 and R1.14 per litre, and diesel will be hiked by between R1.94 and R1.97 a litre.

The average international product prices for Petrol, Diesel and Illuminating Paraffin increased during the period under review.

The Rand depreciated 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 01 September 2023 to 28 September 2023 was 18.9853 compared to 18.6731 during the previous period.

This led to a higher contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 24.17 c/l, 26.63 c/l and 26.59 c/l, respectively.

In terms of the Working Rules to administer the BFP, the differentials between 95 and 93 petrol grades are adjusted at the beginning of each quarter.

The BFP differentials between 95 and 93 petrol grades have changed, and therefore, the different price adjustments between the two grades.

The combined cumulative petrol and diesel Slate balances at the end of August 2023 amounted to a negative balance of R3.519 billion.

In line with the provisions of the Self-Adjusting Slate Levy Mechanism, a Slate Levy of 30.70 c/l will be implemented into the price structures of petrol and diesel with effect from 04 October 2023.

This is how the price changes will reflect at the pumps:

Credit: @BusinessTech