Ricochet News

Petrol price March 2019: Here is how much you will pay from Wednesday

Mar 4, 2019
Petrol price March 2019: Here is how much you will pay from Wednesday

The fuel price increase for March comes as toll fees increased countrywide from 1 March and an Carbon Tax increase is expected in June.

An increase in international oil prices coupled with a weaker Rand, means local motorists will have to cough up more at the pumps in March.

According to the Department of Energy, the rand appreciated, on average, against the US dollar (from R13.94 to R13.80) during the period under review.

“This lowered the contribution to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 7.50 c/litre, 8.84 c/litre and 8.78 c/litre respectively,” it explained.

The Department said that the average Brent Crude oil price meanwhile, increased from $60 to $64 per barrel during the period under review. International prices of all the petroleum products also increased on average.

Here is the official fuel price for March 2019

“This increased the contribution on the Basic Fuel Prices of petrol, diesel and illuminating paraffin by more than 81 c/litre, 100 c/litre and 84 c/litre respectively.”

“As had been predicted last year, OPEC is determined to support higher crude oil prices by reducing production. They are achieving their objective due to the support by other non-OPEC producers,” it said.

“The actions of the oil producers and US sanctions have reversed the benefit that motorists had begun to enjoy following the decreases of approximately R3 in fuel prices during the months of December 2018 and January 2019.”

Based on current local and international factors, the fuel prices for March 2019 will be adjusted as follows:

  • Petrol (93 Octane): 74 cents increase
  • Petrol (95 Octane): 74 cents increase
  • Diesel (0.05% sulphur): 91 cents increase
  • Diesel (0.005% sulphur): 93 cents increase
  • Illuminating Paraffin (wholesale): 76 cents increase

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