Current petrol price south africa – petrol price increase south africa 2022

Current petrol price south africa

Current petrol price south africa: The price adjustments for July include an additional 75 cents per litre which is being added back to the general fuel levy as the government tapers off its interventions first introduced in May. fuel price july 2022 south africa, current petrol price south africa, petrol price increase tomorrow, petrol price march 2022 south africa, petrol price cape town, petrol price johannesburg, what is the price of 95 unleaded petrol in south africa, petrol price june 2022, petrol price increase tomorrow, what is the price of 95 unleaded petrol in south africa, fuel price july 2022 south africa, petrol price increase south africa 2022, petrol price july 2022 south africa, petrol price increase june 2022, petrol price cape town 2022

Motorists will face large fuel price hikes on Wednesday, as the petrol levy cut falls from R1.50 a litre to 75c.

Petrol prices will be hiked by R2.37 (93) and R2.57 (95) a litre, while diesel prices will rise by R2.31 (0.05% sulphur) and R2.30 (0.005% sulphur) a litre, the Department of Mineral Resources and Energy announced on Monday.

In Gauteng, a litre of 95 petrol will cost R26.74 from Wednesday. This is 54% more than a year ago, when it cost R17.39.

Paraffin prices will increase by R1.66 a litre, while the maximum LPGas retail price will fall by R2.18/kg.

In April, government cut the petrol levy by R1.50 a litre in an effort to relieve the economic stress of surging fuel prices.

But from Wednesday, this has been lowered to only 75c – and the full levy will take effect from next month. The levy relief is costing government billions.

Local fuel prices are determined by international oil prices, as well as the dollar-rand value, as South Africa buys oil in dollars.

While the rand strengthened from R15.95/$ to R15.76 over the past month, the average Brent crude oil price increased from $115 a barrel to $115.77. This was due in part to increased fuel demand in China, after lockdown measures were dropped, as well as a move by the European Union to partially ban oil imports from Russia by the end of the year.

The invasion of Ukraine in February has triggered an oil price shock. Russia is the world’s third-largest producer of crude oil, and it has been locked out of Western markets, pushing oil prices higher.

The August price adjustment is expected to add a further 75 cents per litre, ending the interventions altogether.

Prices will be adjusted as follows:

The changes will be implemented on Wednesday, 6 July. Petrol price july 2022 south africa (petrol price south africa 2022) – fuel price january 2022 south africa

According to the department, the average international product prices for petrol, diesel and illuminating paraffin increased during the period under review.

The rand appreciated against the US dollar during the period under review, on average, when compared to the previous period. The average rand/US dollar exchange rate for the period 27 May to 30 June 2022 was R15.76 compared to R15.95 during the previous period.

This led to a lower contribution to the basic fuel prices on petrol, diesel and illuminating paraffin by 19.66 c/l, 20.73 c/l and 20.71 c/l, respectively.

The department reiterated that the temporary fuel price relief will be withdrawn from 3 August 2022.

With effect from 6 July 2022, the fuel levy in the price structure of petrol and diesel will therefore amount to 319 c/l and 305 c/l respectively in the price structure of both petrol and diesel.

While both grades of petrol (93 and 95) are typically aligned, in terms of 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 and therefore the different price adjustments between the two grades.

There was no change to the slate levy over the period.

This is how the price changes will reflect at the pumps: