Following increases each month this year, South African motorists are expected to feel the pinch even further for April when the prices of both grades of fuel increase which will signal record highs.
Looking for your next new or used car? Find it here with CARmag!
April 2024 Fuel Price Inland Petrol Unleaded 93 – R24.78 (up from R24.13) Inland Petrol Unleaded 95 – R25.12 (up from R24.45) Coastal Petrol Unleaded 93 – R24.06 (up from R23.41) Coastal Petrol Unleaded 95 – R24.40 (up from R23.73) Inland Diesel 500 ppm – R22.45 (up from R22.42) Inland Diesel 50 ppm – R22.61 (down from R22.62) Coastal Diesel 500 ppm – R21.73 (up from R21.70) Coastal Diesel 50 ppm – R21.93 (down from R21.92)Related: Fuel Levies Will Stay as is For Now – Finance Minister
The changes in price announced by the Central Energy Fund (CEF) have come at a time when the average international product prices for petrol increased, while diesel and illuminating paraffin decreased during the period under review.
“The rand appreciated 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 1 March 2024 to 26 March 2024 was 18.8689 compared to 19.0186 during the previous period. This led to a lower contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 10.78 c/l, 10.88 c/l and 10.74 c/l respectively,” the CEF said.
Furthermore, Finance Minister Enoch Godongwana announced, during the Budget Speech in February, increases to the Carbon Fuel levy of some 1c per litre on petrol and 3c per litre on diesel.
“No increases will be made to the General Fuel and Road Accident Fund levy on both petrol and diesel. With effect from 03 April 2024, the Fuel Levy in the price structure of petrol and diesel will increase to 396.0 c/l and 384.0 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,” the CEF said.
Browse thousands of new and used cars here with CARmag!
