Fuel levies takes shine off record drop in petrol price
Motorists will pay at least R`1.30 less per litre of fuel when they fill up from Wednesday April 1, the energy department has announced.
However, an increase in fuel levies, which are due to come into effect in April, has offset a record drop in fuel prices that would have seen 95 octane drop by R2.19/l.
The drop was caused by a crash in oil prices amid a price war between Saudi Arabia and Russia, coupled with lower demand for oil due to the coronavirus pandemic.
In Gauteng, a litre of 95 ULP will cost R13.96/l, 93 ULP will cost R13.76/l and diesel R12.70/l. Illuminating paraffin will cost R6.27/l and LPGas R21.93/kg.
Finance minister Tito Mboweni announced in his February budget statement that the fuel levy would increase by 16c/l to R3.77 and the Road Accident Fund Levy by 9c/l, to R2.07/l.
While the rand weakened against the dollar during March, the energy department said this was offset by lower Brent crude prices, which had dropped by 59.21% between January 1 and March 26.