By Ragheema Mclean
Motorists will need to dig even deeper into their already stretched budgets as the prices of petrol and diesel are set to increase for a third consecutive month.
The Department of Mineral Resources and Energy has announced the latest fuel price adjustments, which will take effect on Wednesday, 3 April 2024.
Speaking on VOC’s Ramadan AM on Monday, Automobile Association (AA) spokesperson Elenor Mavimbela, said both grades of petrol will see an increase, with inland prices rising by 65 cents for unleaded 93 and 67 cents for unleaded 95. Coastal prices will increase by 68 cents and 60 cents respectively.
This increase will push the price of 95 unleaded petrol to over R25 per litre in inland areas, marking a significant rise.
This is what motorists will pay for a litre of fuel in April:
Coastal areas
• Petrol 93: R23.99
• Petrol 95: R24.33
• Diesel (0.05%): R21.66
• Diesel (0.005%): R21.82
Inland areas
• Petrol 93: R24.78
• Petrol 95: R25.12
• Diesel (0.05%): R22.45
• Diesel (0.005%): R22.60
However, there is some relief for consumers as the price of illuminating paraffin will decrease by 29 cents per litre, and the price of LP Gas will decrease by 19 cents per kilogramme.
Mavimbela explained that while the mid-month data initially indicated a small increase, recent fluctuations in the US dollar exchange rate and international product prices have led to a larger-than-expected hike in fuel prices.
“Unfortunately, these two factors change quite often and in the past two weeks we’ve seen a higher increase in the dollar exchange rate hence why the seeing a bigger increase than what we anticipated for.”
“It’s still very early in the year so we’re unable to see if petrol will be jumping the R25 per litre mark further but this is the third year which the AA has been urging the government to do something more impactful in terms of decreasing fuel prices.”
Meanwhile, earlier this year, minister of Finance Enoch Godongwana announced in his budget speech that the fuel levy and Road Accident Fund (RAF) levy on both petrol and diesel will remain unchanged, effective from 3 April 2024.
VOC News
Photo: Pexels
