Despite the reduction in levies meant to give South Africans some reprieve from spiralling fuel prices, Mineral Resources and Energy Minister Gwede Mantashe on Monday announced that fuel prices are still set to see an increase.
Mantashe announced the adjustment of fuel prices based on current local and international factors, with effect from 6 April 2022.
The fuel prices for April will be adjusted as follows:
The price of petrol:
The price of diesel:
The price of illuminating paraffin (wholesale):
The fuel prices are adjusted on a monthly basis and are informed by international and local factors.
International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including importation costs, e.g. shipping costs.
The department said the average Brent Crude oil price increased from $96.47 to $109.37 during the period under review.
Other factors include:
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The department announced a further temporary reduction in the general fuel levy of R1.50 for the next two months from Wednesday 6 April 2022 to Tuesday 31 May 2022.
The total fuel levy will now amount to R2.44 per litre for petrol and R2.30 per litre for diesel.
“This intervention will bring much-needed relief to motorists because it will cushion the high fuel price increases that were anticipated this month which were as a result of global factors,” said Mantashe.
The increases in both petrol and diesel would have been close to R2.00 per litre and over R3.00 per litre respectively if there was no intervention, he concluded.
Compiled by Narissa Subramoney
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