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Thursday, April 18, 2024

Brace Yourselves: Petrol Price Changes Hit South Africa on April 3rd

South African motorists, be prepared for another adjustment to fuel prices starting Wednesday, April 3rd, 2024. The Department of Mineral Resources and Energy has announced the official changes, and unfortunately, it’s not good news for those already feeling the pressure of rising costs.

The Breakdown

  • Petrol (93 ULP & LRP): An increase of 65 cents per litre (inland).
  • Petrol (95 ULP & LRP): An increase of 67 cents per litre (inland).
  • Diesel (0.05% Sulphur): A slight increase of 3 cents per litre (inland).
  • Diesel (0.005% Sulphur): A small decrease of around 2-9 cents per litre (depending on inland or coastal regions).
  • Illuminating Paraffin: An increase is expected (specific amounts to be confirmed).

Why the Increase?

Several factors contribute to these price changes:

  • Global Oil Prices: Fluctuations in the international price of crude oil directly impact local fuel costs.
  • Rand-Dollar Exchange Rate: A weaker rand against the US dollar makes importing fuel more expensive.
  • Taxes and Levies: Adjustments to the General Fuel Levy and the Road Accident Fund Levy are also included in the price changes.

Impact on South Africans

The rising petrol prices place additional strain on already strained household budgets. With the cost of living increasing, this further impacts transport costs, food prices (due to increased transport costs), and the overall economy.

Tips for Saving on Fuel

  • Drive Efficiently: Smooth acceleration and braking, and maintaining optimal speeds can improve your fuel economy.
  • Carpool or Use Public Transport: Consider sharing journeys or opting for public transport when possible.
  • Maintain Your Vehicle: Proper tire pressure and regular servicing help maximize fuel efficiency.
  • Compare Fuel Prices: Apps and websites can help you find the cheapest petrol stations near you.

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