The Department of Mineral Resources and Energy has published the official fuel price adjustments for April, with petrol showing an increase of up to 36 cents per litre and diesel up to R1.69 per litre.
The prices will take effect on 6 April 2022, reported BusinessTech.
The prices take into account the recent “tax holiday” on fuels which saw the General Fuel Levy reduced by R1.50 across the board until 31 May 2022.
Additionally, April’s fuel price adjustments also include a 6.56-cents per litre increase to the Slate Levy to a total of 52.62 cents per litre.
As a result, the official fuel price increases for South Africa for April are as follows:
- Petrol 93 – Increase of 28 cents per litre
- Petrol 95 – Increase of 36 cents per litre
- Diesel 0.05% – Increase of R1.52 per litre
- Diesel 0.005% – Increase of R1.69 per litre
- Illuminating Paraffin – Increase of R2.66 per litre
With these increases accounted for, the official inland fuel prices for April are as follows:
- Petrol 93 – R21.63 per litre
- Petrol 95 – R21.96 per litre
- Diesel 0.05% – R21.01 per litre
- Diesel 0.005% – R21.24 per litre
- Illuminating Paraffin – R15.84 per litre
What affects local fuel prices
Two main factors impacting the South African fuel prices are the rand/US dollar exchange rate, as well as international petroleum prices.
Thanks to the rand’s continued strength during March, the exchange rate factor had a lower contribution to the Basic Fuel Prices than in previous periods.
International petroleum prices also found relative stability in recent weeks, but the sharp increase before that played a part in the massive under-recovery of R7.171 billion in the country’s Slate account at the end of March.
Despite efforts to curb the worst of the increases, April’s fuel prices are record-high once again and finance minister Enoch Godongwana said the government is looking at a number of interventions to provide further relief once the current tax holiday has passed, including reducing the Basic Fuel Price, introducing a price cap, terminating certain levies, and promoting greater competition in the industry.
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