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Massive petrol price hike from 1 June – Here’s how much you’ll pay per litre
The Rand depreciating against the Dollar has led to higher contributions to the basic fuel prices.
A petrol station in Edenvale, 7 March 2022. Photo: The Citizen/Neil McCartney
The Department of Mineral Resources and Energy (DMRE) announced an R2.43 petrol price increase (per litre for 93 octane) while 95 octane will increase by R2.33 per litre from 1 June.
The prices of diesel (0.05% sulphur) will increase by R1.10 per litre, while diesel (0.005% sulphur) increased by R1.07 per litre.
Meanwhile, illuminating paraffin will now cast R1.56 more per litre. The price of LP gas decreases by 51 cents per kg.
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The average Brent Crude oil price increased from 104.78 US Dollars (USD) to 115.00 USD during the period under review.
Rand against Dollar
The department also said the Rand depreciated, on average, against the US Dollar (USD), from 14.90 to 15.95 Rand per USD during the period under review when compared to the previous one.
“This led to higher contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 99.49 c/l, 104.69 c/l and 104.47 c/l, respectively,”
“The temporary relief which was for two months (April and May 2022) ends on the 31st of May 2022. On the 31st of May 2022, the Minister of Finance announced the extension of the temporary reduction in the general fuel levy by 150.0 c/l until the 5th of July 2022.”
The department said there is no increase in the Slate levy.
“As of the end of April 2022, the cumulative slate amounted to a negative balance for petrol and diesel of R11,99 billion. In line with the provisions of the Self Adjusting Slate Levy Mechanism, there is no change on the Slate Levy to be implemented into the price structures of petrol and diesel with effect from the 1st of June 2022. The slate levy applicable remains 52,62 c/l.”
Petrol price structures levy
“The levy of 10.00 c/l was introduced in the price structures of 95 ULP that is sold in the inland market during 2005.
“The purpose of the levy was to discourage motorists from wasting octane by using 95 ULP instead of 93 ULP in their vehicles.
“The termination and removal of the DMSL of 10.00 c/l will provide financial relief to motorists whose vehicles utilise ULP 95 Octane in the inland market.”
South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors.
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