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New fuel taxes take petrol price to all-time high

Mar 31 2019 09:09
Fin24

All grades of petrol and diesel will climb by up to R1.34c/l come Wednesday April, 3, the department of energy announced late on Saturday. 

Motorists will be paying close to R15/l of petrol for the first time this year.

Energy Minister Jeff Radebe noted that April is an important month in the fuel price calendar to revise road and pipelines tariffs as well as fuel and Road Accident Fund 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."

South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors.

Domestically, the increase in the Fuel and Road Accident Fund Levies by 15.0cpl and 5.0cpl, respectively, as announced by the Finance Minister Tito Mboweni in his Budget Speech in February has been included in the new fuel price adjustment.
 
There has also been a hike in transport costs. 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 in March.

Increases in primary transport cost will differ in the 54 Fuel Pricing Zones due to the different transport cost increases applied in the 54 pricing zones. For example, the transport costs for petrol and diesel will increase by 5.7 cpl in Gauteng and 0.3 cpl in coastal areas.

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.

Based on current local and international factors, the fuel prices for April 2019 will be adjusted as follows:

  • 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.

fuel price  |  petrol prices
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