Huge petrol price hike for April

The department of energy has announced that the price of petrol will rise by as much as R1.62 in April.

This figure, while not entirely unexpected, is still a major blow to South African consumers, as it will kick the (inland) price of 95 octane petrol up to R12.83 on Wednesday, 1 April.

The steep increase was affected by both a weakening rand, and an increase in the national fuel and road accident levy, the Central Energy Fund said.

The Minister of Finance, in his Budget Speech on 25 February 2015, announced that the Fuel and the Road Accident Fund levies on petrol and diesel will increase by 30.5 c/l and 50.0 c/l respectively on 01 April 2015.

With effect from 01 April 2015, the Fuel Levy on petrol and diesel will therefore amount to 255.0 c/l and 240.0 c/l respectively.

The Road Accident Fund Levy on petrol and diesel will amount to 154.0 c/l with effect from 01 April 2015, the Minister said.

Looking at global influences on the fuel price, the weakening of the Rand against the US Dollar increased the contribution to the Basic Fuels Price on petrol, diesel and illuminating paraffin by 23.0 c/l, 22.0 c/l and 22.0 c/l respectively, the group said.

Here are the full increases:

Fuel Inland Coastal
95 Unleaded & LRP R1.62 R1.60
93 Unleaded & LRP R1.56 R1.54
Diesel 0.05% R1.23 R1.21
Diesel 0.005% R1.25 R1.23
Illuminating Paraffin R0.25 R0.22

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Huge petrol price hike for April