Business Reporter.
The Department of Mineral Resources and Energy (DMRE) has published the official fuel price adjustments for April 2023.
The price adjustments for the month are different based on region, with coastal regions seeing a bigger drop in prices.
The diesel price will be cut by over 73c a litre on Wednesday, with a marginal 1c decrease in 93 unleaded petrol, and a 2c increase in 95.
The changes will come into effect from Wednesday, 5 April 2023.
The Minister of Finance, in his Budget Speech on 22 February 2023, announced that no increases will be made to the General Fuel and Road Accident Fund levy on both petrol and diesel.
With effect from 5 April 2023, the Fuel Levy in the price structure of petrol and diesel will remain at 394.0 c/l and 380.0 c/l, respectively, and the Road Accident Fund Levy in the price structure of both petrol and diesel will remain at 218.0 c/l.
In line with the Ministerial approval, the annual adjustments to transport tariffs applicable in petrol, diesel and IP price structures will range from an increase of 0.8 c/l (Coast District Pricing Zone) to 40.8 c/l (Gordonia Central Magisterial District Pricing Zone).
The primary transport tariffs applicable to the transport of petrol and diesel mainly by means of the road and pipeline network has increased. As a result of the different transport tariff adjustments to be implemented on 5 April 2022, price changes to similar products will differ in the 54 Magisterial District Pricing Zones.
The average international product prices for Petrol, Diesel and Illuminating Paraffin decreased during the period under review.
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 24 February 2023 to 30 March 2023 was 18.3045 compared to 17.7402 during the previous period.
This led to a higher contribution to the Basic Fuel Prices (BFP) on petrol, diesel and illuminating paraffin by 37.88 c/l, 38.84 c/l and 38.15 c/l respectively.
In terms of the Working Rules to administer the BFP, the differentials between 95 and 93 petrol grades are adjusted at the beginning of each quarter. The BFP differentials between 95 and 93 petrol grades have changed, therefore the different price adjustments between the two grades.
The combined cumulative petrol and diesel Slate balances at the end of February 2023 amounted to a negative balance of R 2.433 billion.
In line with the provisions of the Self-Adjusting Slate Levy Mechanism, a Slate Levy of 17.54 c/l (decrease of 4.38 c/l) will be implemented into the price structures of petrol and diesel with effect from 5 April 2023.
Compiled by Lehlohonolo Lehana.