From Wednesday, the price of 93 and 95 unleaded petrol will increase by 28 cents per litre, while the price of diesel (0.05% sulphur) will increase by 9.16 cents per litre.
Fuel prices in South Africa are affected by global oil prices and the rand exchange rate as the country imports crude oil and finished products, which are priced in US dollars.
The Ministry of Mineral Resources and Energy said in a statement on Tuesday that gasoline prices rose as the cost of crude oil rose from $85.08 per barrel to $86.16 during the period under review, the main contributing factor being the reopening of China. economy. The Asian giant is one of the world’s biggest oil consumers.
“The movement in prices of international refined petroleum products, diesel, gasoline and illuminating paraffin mainly followed the trend of rising crude oil prices, while LP Gas prices fell due to lower propane and butane prices during the period,” the department said. said.
The latest price hike will push petrol prices in Gauteng up to R21.68 per liter from Wednesday. The wholesale price of paraffin also increased by 58 cents per litre.
The Automobile Association (AA) has forecast a 52 cents rise in petrol prices to 57 cents per liter and a 22 cents and 33 cents per liter increase for diesel.
“The data shows that the increase in international petroleum product prices is the main cause of the increase in local fuel prices. Any increase in fuel prices now, at a time when South Africans are struggling with, among other problems, financial pressures and unexpected blackouts,” AA said in the notes.
“We again want to ask the government to review the structure of fuel prices with a view to finding ways to reduce this and the possibility of further increases in the future.”
The association is urging Finance Minister Enoch Godongwana, who will present the budget in parliament next month, not to raise the fuel levy.
“Consumers simply cannot afford another price shock, and considering the upcoming 18.65% increase in electricity rates, the rate hike will result in personal financial losses,” the AA said.
Energy regulator Nersa approved the increase in electricity tariffs for April 1.
“Consumers continue to be very embattled and increases for both fuel levies will be counter-productive, ill-timed, and have disastrous results for millions of people who have struggled to make ends meet,” said AA.