The Automobile Association (AA) of South Africa expects a further hike in fuel prices in April.
It is expected that 95 Unleaded Petrol will reach record territories when the Department of Mineral Resources and Energy makes the official adjustment next Wednesday.
The comments were made by the AA after the unaudited month-end fuel price data was released by the Central Energy Fund.
The expected fuel price increases for April 2021 are as follows:
- Petrol – 73 cents increase per litre
- Diesel – 39 cents increase per litre
- Illuminating Paraffin – 37 cents increase per litre
These price hikes do not account for the additional 27 cents to the General Fuel Levy and Road Accident Fund levies that were announced by Finance Minister Tito Mboweni in February.
These levies will come into effect in April, but do not impact illuminating paraffin.
“With the increase to the levies factored in, petrol could rise by as much as R1 a litre, and diesel by 66 cents a litre,” said the AA.
“This means that the fuel price for April will be in the region of R17.32 a litre for ULP 95 inland, comfortably surpassing the previous high of R17.08 set in late 2018.”
Due to the levy increases, motorists will be paying between 35% and 40% in taxes on every litre of fuel purchased, translating to R5.96 per litre to the GFL and RAF levies.