The Department of Energy has published the latest fuel price adjustments for April 2021, showing a massive increase at the pumps for motorists.
The following changes will take effect from Wednesday, 3 March 2021:
- Petrol 95: increase of R1.00 per litre;
- Petrol 93: increase of 95 cents per litre;
- Diesel 0.05%: increase of 65 cents per litre;
- Diesel 0.005%: increase of 63 cents per litre;
- Illuminating Paraffin: increase of 35 cents per litre.
The movement in prices is typically affected by two main factors – international petroleum costs, and the movement in the rand/dollar exchange rate. However, in April hikes in fuel levies also come into effect.
The average international product prices for Petrol, Diesel and Illuminating Paraffin increased during the period under review, while the rand depreciated against the US dollar during the period under review, on average, when compared to the previous period.
The average rand/US dollar exchange rate for the period 26 February 2021 to 30 March 2021 was 14.9829 compared to 14.7631 during the previous period.
This led to a higher contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 10.70 c/l, 10.03 c/l and 9.71 c/l respectively.
The Minister of Finance, in his Budget Speech on 25 February 2021, announced that the Fuel and the Road Accident Fund levies on both petrol and diesel will increase by 16.0 c/l and 11.0 c/l respectively on 7 April 2021.
With effect from 7 April 2021, the Fuel Levy in the price structure of petrol and diesel will therefore amount to 393.0 c/l and 379.0 c/l respectively. The Road Accident Fund Levy in the price structure of both petrol and diesel will amount to 207.0 c/l with effect from 7 April 2021.
There is also an increase in the transport tariff taking effect – ranging between 0 cents and 2.8 cents per litre – which averages to an additional 1.2 cents per litre added to the price, the department said.
This is how the increases will reflect at the pumps:
|Fuel (Inland)||March official||April official|
|0.05% Diesel (wholesale)||R14.12||R14.77|
|0.005% Diesel (wholesale)||R14.17||R14.80|