Govt announces petrol price increase

The price of petrol will rise by between 48 cents and 49 cents a litre on April 7, the Energy Department said on Wednesday.

Petrol 93 ULP and LRP will rise by 49 cents per litre while petrol 95 ULP and LRP will rise by 48 cents per litre.

The wholesale price of diesel with a 0,05% sulphur content would increase by 48,5 cents a litre.

Diesel with a 0,005% sulphur content would increase in price by 48,5 cents a litre.

The wholesale price of illuminating paraffin would jump by 21 cents a litre while the single maximum national retail price for illuminating paraffin would increase by 28 cents a litre.

A litre of petrol 95 ULP will now cost R8,58 a litre in Gauteng.

The department said there had been increases in fuel tax on both petrol and diesel.

“The minister of finance, in his budget speech on February 17 2010, announced an increase of 17,5 cents per litre in the fuel tax [this includes 7,5 cents per litre to contribute to the funding of the New Multi-Product Pipeline between Durban and Gauteng] on petrol and diesel with effect from April 7 2010,” the department said.

The minister also announced an increase in the Road Accident Fund levy on petrol and diesel of eight cents a litre. This would also come into effect on April 7.

On economic factors affecting the fuel price, the department said that during the period under review—February 26 to March 30—the average international product prices of petrol, diesel and illuminating paraffin increased.

The average rand/US dollar exchange rate had strengthened when compared with the previous period.

“The average rand/US dollar exchange rate for the period February 26 to March 30 was 7,4753 compared with 7,6902 during the previous period.”—Sapa

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