Massive increase in petrol price for April – With tax hikes coming
The Department of Energy has released the official fuel price increases set to take place in South Africa in April 2021.
The department stated that the following fuel price hikes will take place on 7 April, as reported by BusinessTech.
- Petrol 95 – Increase of R1.00 per litre
- Petrol 93 -Increase of 95 cents per litre
- Diesel 0.05% – Increase of 65 cents per litre
- Diesel 0.005% – Increase of 63 cents per litre
- Illuminating Paraffin – Increase of 35 cents per litre
Contributing factors to the large hikes were changes in international petroleum prices and the rand/US dollar exchange rate.
International pricing for petrol and diesel increased during the department’s latest review period, while the rand weakened against the US dollar.
Tax hikes
Unfortunately for local motorists, this is not where the hikes end.
7 April 2021 will also see the introduction of higher taxes on fuel in South Africa.
Finance Minister Tito Mboweni announced an increase in fuel taxes as part of his 2021 budget speech in February, which are:
- General Fuel Levy – 15c per litre increase
- Road Accident Fund Levy – 11c per litre increase
He added that carbon taxes will also be increased from 7 April 2021.
The levy for 2021 will increase by 1c to 8c per litre for petrol and 9c per litre for diesel from 7 April, stated Mboweni’s budget plans.
These tax increases will be added on top of the fuel price hikes for the month of April.
The result will be much higher fuel prices across the board.
The official fuel prices for April 2021 are listed below.
- 95 Petrol – R17.32
- 93 Petrol – R17.10
- 0.05% Diesel (wholesale) – R14.77
- 0.005% Diesel (wholesale) – R14.80
- Illuminating Paraffin – R8.81
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