Here is the official petrol price for December

The Department of Mineral Resources and Energy has published the official fuel price adjustments for December 2023, showing a big cut to both the petrol and diesel prices in South Africa.

Reflecting the trend seen throughout November, motorists are in for a sizeable fuel price cut from Wednesday, 6 December.

Petrol prices will be cut by 65 cents per litre, and diesel will be going down by between R2.35 and R2.41 a litre.

The average international product prices of petrol, diesel and illuminating paraffin decreased in line with the lower crude oil prices.

Diesel and Illuminating paraffin prices declined more that petrol because of increased production of middle distillates by refiners to cater for the expected increase in demand during the upcoming winter season in the Northern Hemisphere.

LPG prices increased due to the increase in the prices of propane and butane as a result of seasonal demand.

These factors led to lower contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 66.15 c/l, 192.98 c/l and 147.46 c/l, respectively.

The Rand appreciated on average, against the US Dollar (from 19.16 to 18.55 Rand per USD) during the period under review when compared to the previous one.

This led to lower contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 33.11 c/l, 36.95 c/l and 37.68 c/l, respectively.

The cumulative slate balance on petrol and Diesel at the end of October 2023 had a negative balance of R3,1 billion. Therefore, the slate levy will decrease to 26.32 c/l – a 26.30c/l decrease from last month.

In line with the application of the Regulatory Accounting System (RAS), the Minister of Mineral Resources and Energy approved a net increase of 60.1 c/l in the annual margin adjustments on petrol and a net increase of 13.88 c/l on diesel and illuminating paraffin wholesale prices, with effect from the 6th of December 2023.

This is how the price changes will reflect at the pumps (Diesel prices reflect wholesale, pump prices will differ):

Read: Warning over petrol prices, inflation and interest rates in Sout