Faizel Patel – 02/04/2021
The Energy Department has announced that the price of 93 octane will increase by 95 cents per litre and 95 octane by R1.00 from Wednesday, 7 April.
The prices of different grades of diesel (0.05% sulphur) increases by 65.2 cents per litre and (0.005% sulphur) by 63.2 cents per litre while illuminating paraffin will increase by 34.8 cents per litre.
The price of LP gas increases by 48 cents per kg.
The Energy Department says the main reasons for the fuel price adjustments is due to the increase of the increase in the average Brent Crude oil and the Rand depreciating on average, against the US Dollar during the period under review when compared to the previous one.
“The dramatic price fluctuations are attributable to a variety of events; including low U.S. crude oil inventory figures, the expected increased economic activity in the U.S. due to the approval of their economic stimulus and a vessel stuck in the Suez Canal causing a delay for all cargo containers including oil tankers.”
The department says the fuel levy announced by finance minister Tito Mboweni on 25 February has also contributed to the increase.
The Minister of Finance announced that the Fuel and Road Accident Fund (RAF) Levies on both petrol and diesel will increase by 16 cents per litre and 11.00 cents respectively.
South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors