MBABANE: The price of fuel is expected to rise BY 20 cents in South Africa when the energy regulator, NERSA announces their monthly energy economic data shortly. There is a mild possibility of a similar Eswatini price increase.
While the official price fluctuation in the prices of fuel has not yet been announced, economists analysing data from the RSA Central Energy Fund indicate that petrol and diesel will likely increase by 20c a litre in South Africa.
Eswatini shares the same price calculations using the same data as other members of the Southern Africa Customs Union (SACU) who share the same slate with Botswana, Lesotho, Namibia and Eswatini. However each country reserves the right to adjust pump prices according to domestic conditions. Eswatini usually ignores minor changes in upward or downward price trends, adjusting only when the difference is significant.
The fuel price in Eswatini is lower by almost E1.00 than that of Eswatini due to less taxes on a litre of fuel.
The expected fuel price increase will be the first after a series of continuous declines in the past few months.
The official pricing is expected to be announced shortly by the Department of Mineral Resources and Energy with the changes taking effect in South Africa on Wednesday, 6 November.
Expected fuel price changes
- Petrol 93: +18 c per litre
- Petrol 95: +30c per litre
- Diesel 0.05% (wholesale): +23c per litre
- Diesel 0.005% (wholesale): +22c per litre
- Illuminating Paraffin: +20c per litre
Continuing the pattern seen in October, the primary cause of the under-recovery remains the elevated global oil price, which is significantly higher than in September.
Should the Rand currency stay near its present value, fuel price changes are likely to stay mild heading into the new year and beyond.
Jm/today/3.10.2024.
