The price of 95 octane unleaded petrol rose by R2.33/l on Wednesday, while 93 octane unleaded petrol went up by R2.43/l.
The department of mineral resources and energy announced on Tuesday that diesel and illuminating paraffin would also increase by R1.10/l and R1.56/l respectively.
It now costs R24.17/l for 95 unleaded and R23.94 for 93 unleaded. The wholesale price of diesel also reached record highs, with high-sulphur 0.05% diesel priced inland at R23.09/l and low-sulphur 0.005% at R23.23/l.
Government offered much-needed short term relief for motorists by extending the temporary reduction in the general fuel levy of R1.50/l.
Initially, the department announced a temporary reduction from April 6 until May 31.
This was to provide short-term relief to households from rising fuel prices after Russia invaded Ukraine.
The department said relief was to be funded by liquidation of a portion of the strategic crude oil reserves.
“Since this announcement, the continuation of the Russia/Ukraine conflict, supply chain bottlenecks and a tightening of global monetary policy have led to further unfavourable changes in the two key drivers of the regulated petrol price, the exchange rate and the global oil price,” said the department in a statement.
Finance minister Enoch Godongwana on Tuesday submitted a letter to the speaker of the National Assembly requesting the tabling of a proposal for a two-month extension of the reduction in the fuel levy.
“This will take the form of a continuation of the relief of R1.50/l for the first month, from June 1 to July 6, and then a downward adjustment to the relief for the second month to 75c/l from July 7 to August 2.”
TimesLIVE
Support independent journalism by subscribing to the Sunday Times. Just R20 for the first month.
WATCH | Motorists can relate to this funny advert after petrol price increase
Image: Screenshot
Insurance company King Price's latest advert on the petrol price is the funniest and most relatable yet.
The advert makes light of the petrol price hike and how things could change if the cost of filling up keeps increasing.
“With the petrol price through the roof ... we might need to run this country.”
Watch video below
The price of 95 octane unleaded petrol rose by R2.33/l on Wednesday, while 93 octane unleaded petrol went up by R2.43/l.
The department of mineral resources and energy announced on Tuesday that diesel and illuminating paraffin would also increase by R1.10/l and R1.56/l respectively.
It now costs R24.17/l for 95 unleaded and R23.94 for 93 unleaded. The wholesale price of diesel also reached record highs, with high-sulphur 0.05% diesel priced inland at R23.09/l and low-sulphur 0.005% at R23.23/l.
Government offered much-needed short term relief for motorists by extending the temporary reduction in the general fuel levy of R1.50/l.
Initially, the department announced a temporary reduction from April 6 until May 31.
This was to provide short-term relief to households from rising fuel prices after Russia invaded Ukraine.
The department said relief was to be funded by liquidation of a portion of the strategic crude oil reserves.
“Since this announcement, the continuation of the Russia/Ukraine conflict, supply chain bottlenecks and a tightening of global monetary policy have led to further unfavourable changes in the two key drivers of the regulated petrol price, the exchange rate and the global oil price,” said the department in a statement.
Finance minister Enoch Godongwana on Tuesday submitted a letter to the speaker of the National Assembly requesting the tabling of a proposal for a two-month extension of the reduction in the fuel levy.
“This will take the form of a continuation of the relief of R1.50/l for the first month, from June 1 to July 6, and then a downward adjustment to the relief for the second month to 75c/l from July 7 to August 2.”
TimesLIVE
Support independent journalism by subscribing to the Sunday Times. Just R20 for the first month.
READ MORE:
POLL | Should government do more to cushion citizens from the fuel hike?
Shortage of oil refineries haunts Africa as fuel prices rocket
Fuel price hikes: Here’s what it costs to fill up SA’s most popular cars
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most read
Latest Videos