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Petrol Prices Will To Down By A Few Cents From Wednesday, The Department Of Mineral Resources And Energy Confirms.

Petrol Prices Will To Down By A Few Cents From Wednesday, The Department Of Mineral Resources And Energy Confirms.

Petrol Prices
Petrol Prices Will To Down By A Few Cents From Wednesday, The Department Of Mineral Resources And Energy Confirms.—

Petrol prices will go down by a few cents from Wednesday, the Department of Mineral Resources and Energy confirmed.

Following the temporary reduction of the general fuel levy (GFL), the reprieve at the pumps for May prevails.

Both 93 and 95 UPL petrol will decrease by 12 cents per litre, however, the price of diesel will go up by 98 and 92 cents per litre for 0.05% and 0.005% sulphur, respectively.

Illuminating paraffin (wholesale) will increase by 79.60 cents per litre, while IP (SMNRP) will rise by 149 cents per litre.

Meanwhile, the Maximum LPGas Retail Price will decrease by 69 cents per kilogramme.

“The Minister of Mineral Resources and Energy [Gwede Mantashe] has approved the implementation of revised zone differentials into the price structures of petrol, diesel and illuminating paraffin (IP) with effect from the 4th of May 2022.

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“The annual adjustments to road transport tariffs applicable in petrol, diesel and IP price structures will range from a decrease of 33.4 c/l in Gordonia South Magisterial District Pricing Zone to an increase of 3.0 c/l (Zone 9C-Gauteng),” the department said in a statement.

“The primary transport tariffs applicable to the transport of petrol and diesel mainly using the pipeline network will increase.

“Because of the different transport tariff adjustments to be effective on 4 May 2022, price changes to similar products will differ in the 54 Magisterial District Pricing Zones.”

The reduction of the fuel levy, which decreased by R1.50 per litre from 6 April is set to end on 31 May.

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The decrease saw the levy for petrol going down from R3.85 per litre to R2.35 per litre.

The move, announced by Finance Minister Enoch Godongwana in March, was seen as a relief for motorists who continue to fork out money for the high petrol price amid the ongoing Russia-Ukraine conflict which has affected fuel prices globally.

According to Mantashe, the total fuel levy will remain 244 cents per litre for petrol and 230 cents per litre for diesel during this period.

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Meanwhile, the government indicated that it plans to take further steps to ease the burden on motorists in the future by deregulating the price of petrol.

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The deregulation plans will only occur once Treasury figures out how to recover the R90 billion loss from the fiscus it would see if fuel taxes are removed in one go.

Godongwana previously indicated there were many options on the table to achieve this, such as additional taxes on motor licence renewal fees to fund the Road Accident Fund (RAF).

There have been talks of the RAF levy being scrapped from the fuel levy and moving elsewhere, which has been backed by Parliament’s Portfolio Committee on Mineral Resources and Energy.

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