SA Petrol Price Increases in April, Partly Due to Suez Canal Saga

The price of petrol in South Africa is set to increase by between R1 and 95 cents a litre as of tomorrow, Wednesday 7 April, the Department of Mineral Resources and Energy (DMRE) has announced.

The department attributed the increase to various global events, including the Ever Given vessel which blocked the Suez Canal.

“The average Brent Crude oil price increased from 61.10USD to 64.00USD per barrel during the period under review. 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,” said the department.

The price of 95 (ULP and LRP) will rise by R1 while the price of 93 (ULP and LRP) will rise by 95 cents a litre.

A litre of 95 ULP in Gauteng, which currently costs R16.32, will increase to R17.32 a litre.

Meanwhile, diesel (0.05% Sulphur) will increase by 65.20 cents a litre, while the price of diesel (0.005% Sulphur) will increase by 63.20 cents a litre.

The price of illuminating paraffin (wholesale) will increase by 34.80 cents.

The price of illuminating paraffin (SMNRP) will increase by 35 cents, while the Maximum Retail Price for LPGAS will increase by 48 cents per kilogram.

Fuel Levy and Road Accident Fund (RAF)

In addition, the Minister of Finance, in his Budget Speech in February 2021, announced that the Fuel and Road Accident Fund (RAF) Levies on both petrol and diesel will increase by 16 cents a litre and 11 cents a litre respectively with effect from Wednesday, 7 April.

“With effect from 07 April 2021, the Fuel Levy in the price structure of petrol and diesel will therefore amount to 393 and 379 cents a litre respectively. The Road Accident Fund Levy in the price structure of both petrol and diesel will amount to 207 cents a litre with effect from 07 April 2021,” said the department. – SAnews.gov.za