Official petrol and diesel prices for August 2023: here’s how much more you’ll pay per tank

Fuel price fuel pump petrol price petrol pump Credit Newspress

Fuel price fuel pump petrol price petrol pump Credit Newspress

Published Aug 1, 2023


Petrol and diesel prices are set to rise from Wednesday, 02 August, the Department of Mineral Resources and Energy (DMRE) has announced.

Both grades of petrol will increase by 37 cents per litre, while diesel will rise by between 71 cents (50ppm) and 72 cents (500ppm).

This means motorists will now pay R22.11 for a litre of 95 Unleaded petrol at the coast and R22.83 in the inland regions, where the slightly cheaper 93 Unleaded will now retail for R22.43.

50ppm diesel will now carry a wholesale price of R19.82 at the coast and R20.53 inland, keeping in mind that retail prices - which vary between outlets - will be somewhat more than that.

How much more per tank?

Putting 32 litres of petrol into a small hatchback like a Suzuki Swift or Toyota Starlet will cost you an extra R11.84, while a 42 litre refuel of a small SUV like a Toyota Urban Cruiser will cost R15.54 more. 50 litres in a midsize car such as a Toyota Corolla will cost an additional R18.50 and refuelling a larger SUV like a BMW X5 with 70 litres will carry a R25.90 penalty.

It’ll be a bigger chunk of change for those with diesel-powered bakkies and related SUVs. For instance, putting 70 litres of 50ppm diesel into the 80 litre tank of a Toyota Hilux or Fortuner will set you back an additional R49.70. A 45 litre refuel in a smaller diesel-powered SUV like a Ford EcoSport will cost R32 more.

Why are prices increasing?

International oil prices rose each consecutive week in July, hovering near three-month highs this week at a shade over $85 per barrel. That’s around $10 higher than the June average.

Thankfully a stronger rand softened the blow, averaging R18.28 to the US dollar during the review period, versus R18.68 the previous month, the DMRE said.

Were it not for the firmer currency, petrol would have gone up by around 63 cents per litre in August, and diesel by 99 cents.

IOL Motoring