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April 2023 Fuel Price Update: Price Drops Across the Board, Except Gauteng’s Petrol 95

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  1. The Department of Mineral Resources and Energy has announced fuel price adjustments for April 2023, with most fuel types experiencing a decrease, except for Petrol 95 in Gauteng, which will see a marginal increase.
  2. The Fuel Levy and Road Accident Fund Levy will remain unchanged, as announced by the Minister of Finance during the Budget Speech in February 2023.
  3. The varying transport tariff adjustments will result in price changes for similar products across the 54 Magisterial District Pricing Zones.

The Department of Mineral Resources and Energy has released the official fuel price adjustments for April 2023, with regional variations in price changes being observed. Coastal areas will experience a more significant drop in fuel prices compared to inland regions. These changes will come into effect starting Wednesday, 5 April 2023.

Overall, fuel prices across the board will be decreasing, with the exception of Petrol 95 in Gauteng, which will see a marginal increase of 2 cents per litre. The Minister of Finance, during the Budget Speech on 22 February 2023, announced that there will be no increases in the General Fuel and Road Accident Fund levy on both petrol and diesel.

Beginning 5 April 2023, the Fuel Levy in the price structure of petrol and diesel will remain at 394.0 c/l and 380.0 c/l, respectively. Similarly, the Road Accident Fund Levy in the price structure of both petrol and diesel will remain at 218.0 c/l. Ministerial approval has been granted for the annual adjustments to transport tariffs applicable in petrol, diesel, and IP price structures, ranging from an increase of 0.8 c/l (Coast District Pricing Zone) to 40.8 c/l (Gordonia Central Magisterial District Pricing Zone).

The primary transport tariffs for petrol and diesel, mainly transported via the road and pipeline network, have increased. Consequently, the different transport tariff adjustments to be implemented on 5 April 2022 will cause price changes to similar products across the 54 Magisterial District Pricing Zones.

During the period under review, the average international product prices for Petrol, Diesel, and Illuminating Paraffin decreased. However, the Rand depreciated against the US Dollar, with the average Rand/US Dollar exchange rate for the period 24 February 2023 to 30 March 2023 being 18.3045 compared to 17.7402 during the previous period.

This depreciation resulted in a higher contribution to the Basic Fuel Prices (BFP) on petrol, diesel, and illuminating paraffin by 37.88 c/l, 38.84 c/l, and 38.15 c/l, respectively. As per the Working Rules to administer the BFP, the differentials between 95 and 93 petrol grades are adjusted at the beginning of each quarter. The BFP differentials between 95 and 93 petrol grades have changed, leading to the different price adjustments between the two grades.

The combined cumulative petrol and diesel Slate balances at the end of February 2023 amounted to a negative balance of R 2.433 billion. In accordance with the provisions of the Self-Adjusting Slate Levy Mechanism, a Slate Levy of 17.54 c/l (decrease of 4.38 c/l) will be implemented into the price structures of petrol and diesel, effective from 5 April 2023.

The following table provides a comprehensive breakdown of the fuel price changes at the pumps for both inland and coastal regions for March and April 2023:

Inland

  • 93 Petrol: R22.65 (March Official) → R22.64 (April Official)
  • 95 Petrol: R22.95 (March Official) → R22.97 (April Official)
  • 0.05% Diesel (wholesale): R21.63 (March Official) → R20.89 (April Official)
  • 0.005% Diesel (wholesale): R21.72 (March Official) → R20.97 (April Official)
  • Illuminating Paraffin: R15.97 (March Official) → R14.72 (April Official)
  • LPGAS (p/kg): R38.68 (March Official) → R37.76 (April Official)

Coastal

  • 93 Petrol: R22.00 (March Official) → R21.92 (April Official)
  • 95 Petrol: R22.30 (March Official) → R22.25 (April Official)
  • 0.05% Diesel (wholesale): R20.97 (March Official) → R20.16 (April Official)
  • 0.005% Diesel (wholesale): R21.08 (March Official) → R20.26 (April Official)
  • Illuminating Paraffin: R15.18 (March Official) → R13.80 (April Official)
  • LPGAS (p/kg): R36.10 (March Official) → R35.17 (April Official)

The fuel price adjustments for April 2023 reflect a general decrease in fuel prices, with the exception of Petrol 95 in Gauteng, which has a slight increase of 2 cents per litre. It is crucial for consumers to stay informed about these changes as they can have a significant impact on their monthly expenses. The Department of Mineral Resources and Energy continues to monitor the situation and adjust fuel prices accordingly, ensuring a fair balance between international market fluctuations and the needs of South African consumers.

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