Fuel prices will increase on 7 April

Fuel Prices
Photo by Rock Staar on Unsplash
  • Petrol Increased – R1,00
  • Diesel Increased – R0,65
  • Paraffin increased – R0,34

On Wednesday motorists will have to dig deeper into their pockets as Fuel prices will increase effectively on 7 April.

The Department of mineral resources and energy has announced that petrol will increase by R1.00 in Gauteng and inland provinces pushing the price to R17,32 per litre.

The price of diesel will go up R0.65 per litre. surging the price R14,77 per liter.

Paraffin will go up R0,34 per litre pushing the price to R8,80.

Factors influencing the increase

1. Increase in International Oil prices

The increase in the fuel prices comes as a result of the international oil prices as well the weakening Rand against the US dollar exchange rate.

2. Additional Fuel levy

The R0.27 additional fuel level coming into effect in April is also a contributing factor to the increase in Fuel prices.

Automobile Association (AA) representative Layton Beard attributed the high oil prices during March against the weakening South African Rand.

“Unfortunately, in March oil was quite expensive and the Rand was quite weak. So, for recovery consumers have to pay more for it in April” said Beard.

AA has asserted that the increase in fuel price is likely to negatively impact the livelihood of ordinary South Africans in the value chain.

“It is not only motorists and people who are using public transport that are going to suffer. It is going to affect every single consumer because the price of oil affects the entire value chain from manufacturing to delivery” said Beard.