Petrol increases by 96c a litre on Wednesday

MARCH 2, 2015

In case you missed it. The Department of Energy over the weekend informed motorists that the prices of petrol, diesel, Illuminating paraffin and Liquefied Petroleum Gas (LPG) will increase with effect from the 4th March 2015. South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors.

"The pump price of both grades of petrol and the wholesale prices of diesel, illuminating paraffin and the maximum retail prices of both Illuminating paraffin and Liquefied Petroleum Gas (LPG) will increase with effect from the 4th March 2015. The main reason for the fuel price increases is the average increase in the price of crude oil (by about 20%) during the period under review compared to the previous period. The other reason is the depreciation of the Rand against the US Dollar.

"However, the slate levy on petrol and diesel remain unchanged at zero cents per litre, due to positive cumulative` over-recoveries on these products," the department said in a statement.

Based on current local and international factors, the fuel prices for March 2015 in the South African market will be adjusted as follows:

  1. Petrol will increase by 96.00 cents/litre.
  2. Diesel will increase by  74.00  cents/ litre
  3. Illuminating paraffin (SMNRP) will increase by  73.00 cents/litre
  4. Liquefied Petroleum Gas (LPG) will increase by 154.0 cents/kilogram

The pricing schedule for all the pricing zones will be published on Tuesday, 03 March 2015.

The Department of Energy believes that the price of crude oil will stabilise around the current level and as such no major price shocks are expected in the future.

Note: The fuel and Road Accident Fund Levies that were announced by the Minister of Finance during his Budget Vote Speech will be implemented on the 1st of April 2015.