South Africa 1.4.2014 01:54 pm

Petrol price up at midnight tonight

Image courtesy Freerangestock.com

Image courtesy Freerangestock.com

Petrol prices are on the rise again, with the latest increase taking effect on Wednesday 2 April.

From Wednesday you can expect to pay 5 cents/litre more for octane 93 petrol and octane 95 petrol will increase by 7 cents/litre. Fortunately for diesel drivers the cost of diesel will decrease by 8.8 cents/litre.

The Department of Energy previously indicated that the petroleum prices are increasing due to local and international factors such as import costs, transportation costs and fuel levies.

Gauteng and other inland motorists can expect to pay 3 cents/litre less when refilling as Minister of Energy has repealed the Incremental Inland Transport Recovery System (IITRS) a levy that costs 3 cents/litre included in the fuel price to compensate for the cost of transporting petroleum products from Durban to the inland markets since 2008.

According to the Minister of Energy, Dikobe Ben Martins, “the scrapping of the 3.0 cents per litre levy due to the commissioning of the multiproduct pipeline has had a positive effect on the latest fuel price adjustments. This is consistent with government’s programme to build new infrastructure that benefits South Africans”

This repealed levy will take effect from 2 April.

As winter approaches people may also find solace at the price of paraffin will decrease by 34.5 cents/litre which may be a blessing for those preparing winter.

“The decrease in the price of illuminating paraffin and LPG will benefit households that use these products, especially as winter approaches”, said Martins.

 

 

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