Petrol price up as levies kick in

Petrol pump prices will rise by about 4.4percent from Wednesday, the Department of Minerals and Energy said on Friday, which could put upwards pressure on stubbornly high consumer inflation.

Petrol pump prices will rise by about 4.4percent from Wednesday, the Department of Minerals and Energy said on Friday, which could put upwards pressure on stubbornly high consumer inflation.

A statement from the department said the pump price for 95 grade petrol would go up to R7.38 a litre in Gauteng.

Petrol at the coast now costs R7.14 a litre from R6.83 before.

This follows an increase of 45 cents a litre last month and 61 cents the previous month.

Diesel prices will go up by 39.5 cents a litre, but wholesale paraffin will decrease by five cents and illuminating paraffin by seven cents a litre.

South Africa is a net importer of oil and adjusts its fuel prices on a monthly basis taking into account changes in the rand currency, international oil price and government levies.

The department said international petrol, diesel and paraffin prices decreased between the end of February and March 26, but levies on petrol and diesel announced by Finance Minister Trevor Manuel in February will kick in from April 1.

A fuel tax of 23 cents and 24 cents a litre on petrol and diesel respectively will apply and a 17.5 cents a litre levy for the Road Accident Fund. - Reuters

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