More pain at the pumps for motorists as fuel price increase announced
The main reasons for the fuel price adjustments are international factors such as the rand/dollar exchange rate, the increase in the price of crude oil, and the increase in levies and transport costs.
The Minister of Energy, Jeff Radebe has announced the adjustment of fuel prices for April 2019, and it's not good news for motorists.
- Based on current local and international factors, the fuel prices for April 2019 will be adjusted as follows in Gauteng:
- Petrol (93 Octane, ULP and LRP): 134.00 c/l increase;
- Petrol (95 Octane, ULP and LRP): 131.00 c/l increase;
- Diesel (0.05% sulphur): 81.70 c/l increase;
- Diesel (0.005% sulphur): 82.70 c/l increase;
- Illuminating Paraffin (wholesale): 63.00 c/l increase;
- SMNRP for IP: 65.00 c/l increase;
- Maximum LPGas Retail Price: 171.00 c/kg increase.
The increases will be effective from the 3rd of April 2019.
South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors. International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including importation costs, e.g. shipping costs.
According to the Department of Energy, 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). 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.
The Department says the main reasons for the fuel price adjustments are international factors such as the rand/dollar exchange rate, the increase in the price of crude oil, and the increase in levies and transport costs.