Latest petrol price outlook for April 2024 - Hypertext

18 days ago
Fuel price April 2024
The DMRE has announced the changes to fuel prices in South Africa to come into effect Wednesday 3rd April 2024. This month will see increases to both grades of petrol, and one grade of diesel and then decreases in other fuels like LP gas and paraffin. While the price of Brent Crude oil increased recently, a stronger Rand against the Dollar helped motorists with lower hikes compared to last month.

Motorists returning home to fill up at the pumps after the 2024 long Easter weekend will be in for quite a shock, as the price of petrol is set for an increase this April. This is the second month in a row after prices saw a significant hike in March.

The April price change for petrol has been released by the Department of Mineral Resources and Energy (DMRE), which published the increases and decreases in fuel prices across the board on 28th March 2024.

These latest prices will come into effect from Wednesday 3rd April 2024.

The changes in fuel prices are as follows:

Petrol 93 to increase by 65 cents per litre, Petrol 95 to increase by 67 cents per litre, Diesel 0.05 percent to increase by 3.22 cents per litre, Diesel 0.005 percent to decrease by 1.78 cents per litre, Illuminating Paraffin to decrease by 29 cents per litre, LP gas to decrease by 19 cents per kilogram.

While both grades of petrol and 0.05 percent sulphur diesel are set for increases, they are not by much when compared to the previous month’s increases. In March, petrol and diesel prices increased by over R1 per litre.

April will also see slight decreases to the price of 0.005 diesel per litre, as well as illuminating paraffin and LP gas.

As with every month, international prices of Brent Crude Oil and the strength of the Rand against the Dollar contribute to changes in fuel prices. For April, the price of Brent Crude increased contributing to the slight increases we are seeing.

However, there is some good news, as decreases in diesel, illuminating paraffin and LP gas come as the Northern Hemisphere nations exit the winter months and demand for these fuels is less, leading to lower prices in South Africa.

Meanwhile, the Rand appreciated against the US Dollar, down to R18.04 per USD. This led to lower hikes across the board.

A stark contrast to the increases seen in March, which were spurred by hikes in international Brent Crude Oil prices and a weakening Rand against the Dollar. Further exacerbating motorists is the ongoing situation in the Middle East, including the Israel-Gaza conflict and its repercussions for the region, the oil trade and shipping lanes in the Red Sea.

[Image – Photo by Juan Fernandez on Unsplash]

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