daniel chigunwe
South African dealers will hike fuel prices with effect from today, a Government Minister said.
Minister of Mineral Resources and Energy Gwede Mantashe says the adjustments continue to be influenced by several local and global factors. This has led to a spike in crude oil prices.
International petroleum product prices for the period under review followed the same trend and led to higher contributions to the basic fuel price of petrol, diesel and illuminating paraffin.
“With respect to diesel, apart from increasing crude oil prices, there is also a shortage of diesel supply which is due to lower exports from Russia as a major exporter of distillate fuel at discounted prices,” it said.
The rand/dollar exchange rate has led to lower contributions to the basic prices of petrol, diesel and illuminating paraffin by 17,92 c/l, 19,68 c/l and 19,14 cents per litre, respectively.
However, motorists can look forward to a temporary reduction in the general fuel levy of R1,50 for the next two months from April 6 until May 31. The total fuel levy will now amount to 244 c/l for petrol and 230 c/l for diesel. “ — Moneyweb.
Online Reporter