Another fuel price hike in April

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South African motorists will not get any relief on Wednesday when April’s fuel prices will rise for the third consecutive month.

On 3 April fuel prices will increase as follows:

  • Petrol 93: 65 cents (c) per litre
  • Petrol 95: 67c per litre
  • Diesel 0.05%: 3c per litre

The price of diesel 0.005% will decrease by 2c per litre, as will the price of illuminating paraffin (29c per litre decrease) and LP Gas (19c per kg decrease).

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Read: More pain at the fuel pumps on Wednesday [March 2024]

The Department of Mineral Resources and Energy (DMRE) issued its monthly statement this week about the April fuel price adjustment, just as many South African motorists took to the roads for the Easter long weekend.

According to the department, the petrol price increases can be attributed to the higher Brent Crude oil price which was up from $82.50 to $84.22 per barrel during the period under review. The main contributing factors to a rise in oil prices are the continued cuts from OPEC countries as well as Ukraine’s attacks on the Russian refineries which could impact supply, the DMRE noted.

The DMRE emphasised that the fuel levy and the Road Accident Fund levy will both stay the same, as previously communicated during finance minister Enoch Godongwana’s budget speech in February.

However, the carbon fuel levy increased by 1c per litre for both petrol and diesel. Therefore, the fuel levy on petrol and diesel will increase to 396 cents per litre and 384 cents per litre, respectively.

Read:
Global fuel prices are surging with supply risks ahead
SA inflation rate at four-month high
#Budget2024 in a nutshell: No major tax hikes

The fuel price increases are likely to fuel inflation, as SA’s inflation rate hit a four-month high in February.

The decrease in the prices of 0.005% diesel, paraffin and gas was thanks to the onset of warmer weather in the northern hemisphere and a subsequent lower demand for these fuels.

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