Fuel Hike

Motorists are advised to prepare themselves for yet another heavy blow to their budgets, as mid-month data by the Central Energy Fund (CEF) suggests that the price of fuel will increase sharply in April.

The price of petrol is expected to increase by 96 cents per litre next month, and diesel is expected to increase by 69 cents per litre.

The international price of petroleum is contributing around 72 cents per litre to the increase, while a weakened rand is contributing 24 cents per litre.

Approximately 42 cents is added to the current price of diesel as a result of the international price of fuel, while 27 cents is added by the weaker rand.

The under-recovery estimated by the CEF does not include the higher taxes that will apply from 1 April 2019.

This will mean that a further 20 cents will be added to the price of petrol – this equates to 5 cents for the general fuel levy, and 15 cents per litre to go to the Road Accident Fund.

After June, a further 10 cents will be added to the price of fuel in the form of carbon tax.