South Africans will pay a lot more for petrol and diesel this month, thanks to sharp price increases announced by the Department of Energy.
As reported by BusinessTech, the price of 93 and 95 petrol will increase by almost one rand per litre. The price of illuminating paraffin is also going up.
These price increases include a new slate levy of 6.58c per litre, which will be implemented into the price of petrol and diesel from 4 August 2021.
Contributing factors to the increases were the average price of Brent Crude oil going up and the rand losing strength against the US dollar.
The Department of Energy said the following price hikes will take effect from 4 August 2021.
- Petrol 95 – Increase of 91 cents per litre
- Petrol 93 – Increase of 91 cents per litre
- Diesel 0.05% – Increase of 55.58 cents per litre
- Diesel 0.005% – Increase of 54.58 cents per litre
- Illuminating Paraffin – Increase of 50 cents per litre
New fuel prices
The prices hikes for fuel will kick in on 4 August. The per-litre prices, for inland motorists, are shown below.
- Petrol 95 – R18.20
- Petrol 93 – R18.11
- Diesel 0.05% (wholesale) – R15.63
- Diesel 0.005% (wholesale) – R15.66
- Illuminating Paraffin – R9.63
The AA of South Africa stated that the latest fuel price increases will see the price of petrol climbing 23% since January, with diesel prices climbing 20% since the start of the year.
“These increases will add to the heavy financial burden for South Africans already battered by weak economic conditions,” said the AA.
Duvenage recently pointed out that in 2021, 65% of the price you pay for a litre of 95 petrol is taxes and levies.
35% then consists of the basic fuel price.