After a blow from a hike in VAT and the introduction of some new taxes, South African consumers will be harder hit still by a huge increase in the petrol price for April, which will come into effect at midnight tonight.
The department of energy has published its official fuel price adjustments, confirming a 72 cents and 69 cents per litre increase from 95 ULP and 93 ULP, respectively, while both grades of diesel will jump by 65 cents.
Illuminating paraffin will be going up by 2 cents a litre, the department said.
Price changes (Inland prices)
- 95 ULP – 72 cents per litre increase
- 93 ULP – 69 cents per litre increase
- 0.05% diesel – 65 cents per litre increase
- 0.005% diesel – 65 cents per litre increase
- Illuminating paraffin – 2 cents per litre increase
Aside from the changes in the basic fuel price, there are two big factors that are at play in the increase, the department said.
The first is the fuel levy and Road Accident Fund levy which increased by a combined 52 cents from 1 April, in line with the tax adjustments announced during the February budget speech.
The second is an increase in transportation costs, which is attributed to an annual increase of 3.4% in road transport tariffs, and an average increase of 25% in the pipeline transport costs as was announced by Nersa.
The latter costs will differ across South Africa’s 54 fuel pricing zones, the department said. For example, Gauteng would see a 10 cents per litre increase, while coastal areas would barely see any increase at all.
For April, the basic fuel price saw an under recovery of 10 cents for petrol and 3 cents for diesel – this was due to the rand weakening slightly in the period under review.
The average rand/US dollar exchange rate for the period 02 March 2018 to 27 March 2018 was 11.8489 compared to 11.8167 during the previous period. This led to a higher contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 1.64 c/l, 1.66 c/l and 1.70 c/l respectively.
This is what you can expect to pay from tomorrow:
|Fuel||March official||April official|
|0.05% Diesel (wholesale)||R12.10||R12.75|