Fuel price increases in April but lower than expected

SA motorists are to be hit with a petrol price increase again in April, though it looks to be less than initially expected. The better news is that a diesel price reduction is expected.

Earlier this month the Central Energy Fund reported an under-recovery of more than R1/l for petrol and 65c for diesel due to rising international oil prices and the weakened rand. However, with the subsequent recovery of the rand against the dollar from more than R19 to R18.70, the data points to a more modest increase of about 10c for petrol and a reduction of between 32c-36c for diesel next month.

With the volatile oil price and exchange rate it is too early to make a definite call but if there is an increase it would be the third consecutive one after 2024 started off well for motorists with major cuts in January (up to 76c/l for petrol and R1.26 for diesel).

February saw petrol go up 75c and diesel 73c and March brought hikes of more than R1 for all fuel grades.

Some good news is the two main levies on fuel — the general fuel levy and the Road Accident Fund levy — will not increase for the third consecutive year.

This is what motorists are paying for fuel now:

Inland:

93 unleaded — R24.13

95 unleaded — R24.45

Diesel 0.05% — R22.42 (wholesale)

Diesel 0.005% — R22.61 (wholesale).

Coast:

95 unleaded — R23.73

Diesel 0.05% — R21.70 (wholesale)

Diesel 0.005% — R21.91 (wholesale).