Levies to add to expected fuel price hike in April – AA
South African consumers should brace for a possible increase in the basic fuel price in April of 98 cents per litre for petrol, 70 cents per litre for diesel and 63 cents per litre for illuminating paraffin, the Automobile Association (AA) said in a statement on Friday.
The AA warned that the expected rises would be higher when hikes in fuel levies, announced by Finance Minister Tito Mboweni in February, are factored in.
It said that its outlook for April sees petrol increasing by R1.18 a litre and diesel by 90 cents a litre when the levies are included.
The current inland price for a litre of 95 octane unleaded petrol is R14.82. If the R1.18 rise per litre of petrol goes ahead in April, this will rise to R16.00.
The association based its projections on the unaudited mid-month fuel price data released by the Central Energy Fund (CEF).
Oil and the rand
The CEF's analysis shows that international oil prices likely will contribute 73 cents a litre to the expected increase in the case of petrol.
Movements in the rand exchange rate. meanwhile, will likely contribute 23 to 26 cents a litre to the expected increase.
"When fuel taxes were proposed as a roads funding mechanism, the government resisted, claiming they were anti-poor," the AA commented."But the fuel levy has nonetheless risen by nearly 22% over the past three years. Given what is emerging at the Zondo Commission of Enquiry, motorists are justified in asking what this money is being spent on."
At the beginning of March South African motorists had to pay 74 cents more per litre of petrol, and between 91 and 93 cents more per litre of diesel.
The price hikes in March were mainly due to an increase in international crude oil prices.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
