Another high fuel price increase in April 2021
Fuel and petrol price is expected to get another massive increase. This information is coming from the AA who is commenting on the unaudited mid-month fuel price data released by the Central Energy Fund. This increase is being caused by the steep increase in international petroleum prices, the weakening Rand to US Dollar exchange rate and an increase in fuel tax.
“These increases will exacerbate the already dire financial positions of millions of South Africans.” – AA.
Expected fuel price increase for April 2021.
The expected increase in fuel is as follows according to the AA:
- Petrol by 90 cents per litre.
- Diesel by 66 cents per litre.
- Illuminating paraffin by 62 cents per litre.
This prediction does not include the 26 cents per litre increases to the General Fuel and Road Accident Fund levies announced by the Minister of Finance in his February Budget which will also come into effect in April.
Including the increase in tax, the following could be what petrol and diesel cost next month.
- Petrol increase of R1.16 per litre. This means that 35% of the total petrol price will be tax.
- Diesel increase of 92 cents per litre. This means that 40% of the total diesel price will be tax.
This news was best described by the AA as “grim”. If you need as much of a breather from this as we do, take a look at the Microlino 2.0. A small, city-dwelling EV for Europe.
“The rampant upward march of international oil prices has quickened alarmingly in the first weeks of March. The basic fuel price for petrol, for instance, shot up from R6.55 a litre at the February close-out, to R7.40 a litre in the first two weeks of March. Over the same period, the average Rand/US dollar exchange rate weakened by about 30 cents.” – AA.
“The cost is not only direct, but throughout the value chain, and is battering consumers from all sides. It requires urgent review to help ease pressure on consumers who are battling to stay financially afloat.” AA.
Source: AA
