Photo by: Bloomberg
The price of petrol is once again set to rise in April, increasing 5c/l for 93 octane and 7c/l for 95 octane in the Gauteng zone, while inland diesel will drop by between 7.8c/l and 8.8 c/l, the Department of Energy announced on Friday.
The increase in the petrol price was somewhat softened by a repeal of the Incremental Inland Transport Recovery System (IITRS) levy of 3c/l, which was introduced in 2008 to recover the cost of transporting petroleum products by modes of transport other than the pipeline from Durban to the inland markets.
This retraction by Energy Minister Dikobe Ben Martins followed the commissioning of a multiproduct pipeline transporting petrol, diesel and jet fuel from Durban to Gauteng.
“This means that inland motorists will pay 3c/l less on the pump price. The scrapping of the IITRS levy has had a positive effect on the latest fuel price adjustments. This is consistent with government’s programme to build new infrastructure that benefits South Africans,” he said in a statement.
South Africa’s fuel prices were adjusted monthly, informed by international factors, including crude oil and finished product imports, and local factors, such as fuel levies and the Road Accident Fund levy.
Meanwhile, the department also announced a 34.5c/l to 49c/l drop in the price of illuminating paraffin and a 22c/kg decrease in the price of liquefied petroleum gas (LPG).
“The decrease in the price of illuminating paraffin and LPG will benefit households that use these products, especially as winter approaches,” commented Martins.
Fuel prices would vary in other fuel pricing zones owing to an adjustment to transportation costs. The pricing schedule for the various zones would be published on April 1.