Hefty Petrol Price Increase To Take Effect



While motorists will be paying more at the pumps as of 1 June 2022, many have breathed a sigh of relief as the government announced a partial extension to a relief measures that have cushioned the rising price of petrol for the last two months.




The price of a petrol per litre will increase by R2.43 for 93 octane and R2.33 for 95 octane. Individuals who purchase Diesel will have to fork out R1.07 more per litre at the pumps.

Here are the Fuel Price Adjustments

  • Petrol 93: will increase by 243 cents per litre
  • Petrol 95: will increase by 233 cents per litre
  • Diesel 0.05% sulphur:  will increase by 110 cents per litre
  • Diesel 0.005% sulphur: will increase by 107 cents per litre
  • Illuminating Paraffin: will increase by 156 cents per litre

While these increases are still massive and will hit consumers' pockets hard in most aspects of their lives, it could have been much worse had the withdrawal of the general fuel levy not been extended.

The Department of Mineral Resources and Energy (DMRE) announced that the reduction in the General Fuel Levy will remain in place for the next two months.

This comes after Finance Minister Enoch Godongwana submitted a letter to the Speaker of the National Assembly, requesting the tabling of a two-month proposal for the extension of the crucial relief measure.

“This will take the form of a continuation of the relief of R1.50 per litre for the first month, from 1 June 2022 to 6 July 2022, and then a downward adjustment to the relief for the second month to 75c per litre from 7 July 2022 to 2 August 2022. The temporary relief will be withdrawn from 3 August 2022” explained the department.

In March, Godongwana announced the R1.50c reduction to the general fuel levy as conflict in Ukraine and several other factors caused a surge in the price of petroleum products.

This meant that any increase to the price of fuel over the past two months was R1.50c less than what it would have been, had the reduction in the General Fuel Levy not been in place.

The department also announced the termination and removal of the Demand Side Management Levy of 10c per litre from the price structure of Unleaded Petrol 95 Octane in the inland market.





Google News

Advertisement i

Advertisement m