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By Staff reporter 
8h ago
Cape Town – Minister Gwede Mantashe’s Department of Mineral Resources and Energy beat projections by announcing steep increases in fuel prices Thursday night.
The Automobile Association expected a record increase (of 73 cents a liter), due to a 27 cents a liter increase in taxes, but the fuel price increase that goes into effect as of April 7 exceeds that: 93 Unleaded gasoline increases by 95 cents per liter. and 95 unleaded petrol at 100 cents a liter, bringing the price to the territory of 17 rand per liter.
“The dramatic price fluctuations are attributable to a variety of events, including low US crude oil inventory figures, the expected increase in economic activity in the US due to the approval of its economic stimulus. and a ship stuck in the Suez Canal that caused a delay for all cargo containers, including tankers, “the Department of Mineral Resources and Energy said in a statement.
The cost of high sulfur diesel will see an increase of 65.20 cents per liter, while diesel with 0.005% sulfur will increase by 63.20 cents per liter and wholesale lighting paraffin by 34.80 cents per liter.
The increases include a 15 cent per liter increase in the General Fuel Tax, while the Highway Accident Fund tax increases by 11 cents and the Carbon Fuel tax by 1 cent.
These levies will now total R5.96 for every liter of fuel purchased, which is almost 40 percent of the price you pay at the pumps.
The AA had warned that the latest increases would have a dire impact on ordinary South Africans.
“We can only emphasize again the severe additional damage that these increases will cause to household budgets, both directly and indirectly as increased transportation costs propagate along the value chain,” the association said.
“Increasing public transport fares will surely not be very far either.”
MESS
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