[ Home ] [ Speeches & statements ]

With the fuel pricing data at the disposal of the Department of Minerals and Energy as at 21 December 2001, it is anticipated that the following fuel price adjustments will become effective on Wednesday, 02 January 2002:

* Petrol (all grades): 3,0 c/l increase (retail)
* Diesel: 2,0 c/l increase (wholesale); and
* Illuminating Paraffin (ip): 4,0 c/l (increase (wholesale).

During the current period under review, that is from 26 November 2001 to 24 December 2001, the international crude oil prices moved in a band of USD 17 per barrel. International market prices of the above petroleum products, quoted in US cents/gallon at refineries in Singapore and Bahrain, decreased. These decreases (in RSA cents/litre) amounted to 8,3 c/l for petrol, 12,6 c/l for diesel and 9,9 c/l for illuminating paraffin. However the Rand/US Dollar exchange rate deteriorated sharply since the beginning of this review period with a resultant increase of 13,1 c/l on petrol, 14,2 c/l on diesel and 14,4 c/l on illuminating paraffin.

With effect from 2 January 2002 the current 0,5 % sulphur content diesel grade will be replaced by 0,3 % and 0,05 % sulphur content diesel grades. The 0,3 % and 0,05 % diesel grade prices will respectively be approximately 2,0 c/l and 6,0 c/l higher than the current 0,5 % diesel grade.

Enquiries: Mr. Kanyo Gqulu at (012) 317 9045, Fax: 012) 322 4954, 083 293 3377
E-mail: yonelas@mepta.pwv.gov.za

Issued by Department of Minerals and Energy

20 December 2001