AS of midnight tonight, the cost of a litre of fuel will shoot up by between 81 cents a litre and 98 cents a litre depending on the fuel you use.
This is according to the Automobile Association (AA), warning that Petrol 95 will increase by 88 cents per litre (c/l), 93 by between 81c/l and 86c/l, and the two diesel fuels by either 96c/l or 98c/l.
The cost of a litre of 93 unleaded petrol is now R11.94 at the coast (up from R11.13).
The 30c/l increase to the Fuel Levy, announced by Finance Minister Pravin Gordhan during his budget speech in February, has been added to all of the price adjustments.
‘For many, the fuel price is merely a number on a pump that they need to pay when filling their tank.
‘But the cost of this essential commodity is much more than that – it is made up of many different costs that, together, constitute what is commonly referred to as the petrol price,’ said the AA.
‘In South Africa this price is adjusted monthly based on a number of factors, mainly international petroleum prices, and the Rand/US Dollar exchange rate.’
The Fuel Levy goes directly to the National Treasury, while the Road Accident Fund (RAF) Levy goes to the RAF used to care for victims of car crashes.
Where fuel costs flow
For every litre of coastal petrol costing R11.94, close to 37% is allocated to the levies.
A 50-litre tank filled with 93 unleaded petrol at the coast should cost R597.00.
Of this, R142.50 goes directly to the Fuel Levy with a further R77 going to the RAF Levy, giving a combined total of R219.50.
The AA releases a prediction for the change in the fuel price in the middle of every month.
