It’s always pleasant news when fuel prices decrease, but the 21-day lockdown has dampened the joy South Africans would have had for prices of as ‘little’ as R13.27 a litre for 95 ULP from April 1.
The price is according to unaudited month-end data released by the Central Energy Fund.
The tax increase slated for early April eroded some of the savings which could have been over R2 a litre.
According to the Automobile Association, were it not for the levy hike, South Africans would have enjoyed a R2.18 a litre price decrease for 95 Unleaded petrol, while 93 Unleaded would have fallen by R2.05 and both grades of diesel by around R1.65.
However, factoring in the 25 cent increase in the fuel levies, as announced during the Budget Speech, the petrol price decreases will be to the tune of around R1.93 a litre (95 ULP) and R1.80 (93 ULP), while diesel is set to drop by R1.40.
What you’ll pay at the pumps
What this means at the pumps is that South Africans living at the coast will now pay in the region of R13.27 for 95 ULP, while inland motorists are looking at R13.72 for 93 ULP and R13.91 for 95 ULP.
Forecourt diesel prices are not available as this fuel is deregulated, but the wholesale price for diesel looks set to decrease to R12.24 at the coast and R12.63 inland. This excludes the retail mark-ups.
“The crude oil price war between Saudi Arabia and Russia continues unabated, with demand for oil further suppressed as world economies retreat due to the coronavirus pandemic,” the Automobile Association said.
“Not even the precipitous fall of the rand against the US dollar has been able to arrest the fuel price reductions, which are historic.”
South Africans are also reminded that fuel stations will still be open during lock-down, but once again, those who do not perform essential services are required to stay at home, unless they are buying groceries or seeking medical attention.
