Jeff Radebe who is the Energy Minister has announced the adjustment of fuel prices for April 2019, with motorists to be hit hard as a result of rising global oil prices, a weaker rand and the introduction of new fuel taxes.
April is an important month in the fuel price calendar to revise road and pipelines tariffs as well as fuel and Road Accident Fund (RAF) levies, to be implemented into the price structures of petrol, diesel and Illuminating paraffin (IP), the Department of Energy said.
Their total contributions to the fuel price increase is about 26.00c/l in Gauteng whilst the international factors amounted to about 106.00c/l on petrol and 56.00c/l on diesel and IP, it said.
The rand depreciated, on average, against the US dollar (from R13.80 to R14.36) during the period under review.
This increased the contribution on the Basic Fuel Price of petrol, diesel and illuminating paraffin by between 28.00c/l and 30.00c/l, the department said.
The average Brent Crude oil price increased from $64.04 to $66.01 per barrel during the period under review.
This led to higher prices of all the petroleum products which increased the contribution on the Basic Fuel Price of petrol, diesel and illuminating paraffin by about 78.00c/l, 26.66c/l and 25.76c/l respectively.
Fuel and Road Accident Fund Levies increased by 15 cents a litre and 5 cents, respectively.
The increases in primary transport cost are attributed to an average annual increase of 10.96% in road transport tariffs and an annual increase of 10.95% in pipeline transport costs announced by the National Energy Regulator of South Africa (Nersa) on 16 March 2019.
The fuel prices for April 2019 will be adjusted as follows in Gauteng:
- Petrol (93 Octane): R1.34 increase;
- Petrol (95 Octane): R1.31 increase;
- Diesel (0.05% sulphur): 81.70 cents;
- Illuminating Paraffin (wholesale): 63 cents.
The price of 95 unleaded goes up by R1.26 per litre at the coast, while the price of 93 unleaded goes up by R1.29 per litre. Diesel 0.05% increases by 76 cents per litre at the coast.
Here is what you can expect to pay from 3 April:
Source: Business Tech
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