Fuel price increase expected on 7 April

Photo by Deva Darshan on Unsplash
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The Department of Mineral Resources and Energy announced a fuel price increase that will take effect on Wednesday, 7 April. 

Motorists can expect to pay 95 cents per litre more for 93 unleaded petrol and R1 more for 95 unleaded petrol. High sulphur diesel will increase by 65.20 cents per litre, while 0.005% sulphur diesel rises by 63.20 cents per litre. Wholesale illuminating paraffin will cost 34.80 cents more per litre.

The Department of Mineral Resources and Energy said in a statement, “The dramatic price fluctuations are attributable to a variety of events, including low US crude oil inventory figures, the expected increased economic activity in the US due to the approval of their economic stimulus and a vessel stuck in the Suez Canal causing a delay for all cargo containers including oil tankers,”

Included in this increase are levy increases such as the General Fuel levy which increases by 15 cents, the Road Accident Fund levy which increases by 11 cents and the Carbon fuel levy which increases by 1 cent. These were all announced by the National Treasury in February 2021.

The levies make up 40% of the price motorists pay per litre of fuel.

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