South African motorists will face another month of rising fuel costs as April's prices take effect on Wednesday. This marks the third consecutive month of increases forcing motorists to dig deeper in their pockets.
While the price of petrol and diesel will increase, there is some relief for users of other types of fuels. The prices of illuminating paraffin and gas will decrease as well as a slight increase for Diesel 0.00t sulphur.
Here Are The April 2024 Petrol Price Increases
- Petrol (93 ULP & LRP) will increase by 65c per litre
- Petrol (95 ULP & LRP)will increase 67c per litre
- Diesel (0.05% sulphur) will increase by 3c per litre
- Diesel (0.005% sulphur) will decrease by 1c
- Illuminating paraffin (wholesale) will decrease by 29c
- Single Maximum National Retail Price for illuminating paraffin will decrease by 58c.
- Maximum LP Gas retail price will decrease by 19c
The Department of Mineral Resources and Energy (DMRE) attributes the petrol price increases to a rise in global Brent Crude oil prices. The price of a barrel of Brent Crude oil climbed from $82.50 to $84.22 under the review period.
The other two key factors impacting oil prices include production cuts by the Organization of the Petroleum Exporting Countries (OPEC+) countries and supply disruptions due to attacks on Russian refineries by Ukraine.
Limited Government Levies, But Carbon Levy Up
The DMRE confirmed that both the fuel levy and the Road Accident Fund levy remain unchanged, as announced in February's budget speech by Finance Minister Enoch Godongwana.
However, the carbon fuel levy has increased by 1 cent per litre for both petrol and diesel, pushing the total fuel levy to 396 cents/litre for petrol and 384 cents/litre for diesel.
Analysts warn that these fuel price hikes could further fuel inflation, which already reached a four-month high in February. The decrease in prices for 0.005% diesel, paraffin, and gas is attributed to the approaching warmer weather in the northern hemisphere, leading to lower demand for these heating fuels
