Petrol price

The government will intervene to soften South Africa's record-high petrol price in April, says finance minister Enoch Godogwana.

The price of diesel is expected to increase by R2.97 – R3.12/litre before the intervention. Interventions will be considered by the DMRE to reduce the price pressure for illuminating paraffin over the medium term. This will allow retailers to sell at a price below the regulated price. - A reduction in the GFL in diesel from R3.70/litre to R2.20/litre - A reduction in the GFL in petrol from R3.85/litre to R2.35/litre - A reduction in the Basic Fuel Price of 3c/l, in line with the recommendations of the review done by the Department of Mineral Resources and Energy (DMRE).

Government oil companies have given relief on Friday after a sharp increase in petrol and diesel prices. Today, there has been no change in oil prices in ...

This is the reason why the prices of petrol and diesel appear so high. At the same time, HPCL consumers can know the price by sending HPPrice to the number 9222201122. Here diesel has also crossed the level of Rs 100. Petrol and diesel prices change every day at 6 am. Government oil companies have given relief on Friday after a sharp increase in petrol and diesel prices. Companies have increased the price of diesel by more than 80 paise per day in the last few days.

Phase one includes a temporary reduction in the general fuel levy, to be funded by liquidating strategic crude oil reserves.

- The termination of the practice to publish guidance by the DMRE on diesel prices to promote greater competition. - A reduction in the Basic Fuel Price of 3c/l, in line with the recommendations of the review done by the DMRE. Phase one includes a temporary reduction in the general fuel levy, which is to be funded by liquidating of a portion of the strategic crude oil reserves.

The Finance Minister announced that the general fuel levy would be temporarily reduced by R1.50 per litre from 6 April until 31 May.

Between February 2019 and February 2022, the petrol prices rose by about 33% whilst diesel has risen by 48%. This had resulted in the steep surge in the prices of petrol and diesel. He said reduction in the fuel levy, must be seen in this light, “a concession to the impending resistance against price hikes of fuel, and to add, of electricity”.

Although the fuel levy was slashed on Thursday afternoon, a substantial petrol price increase for April remains likely for South Africa.

But bodies like the Central Energy Fund and AA South Africa still say our fuel costs are heading for another record-breaking high. The R1.50 levy relief doesn’t cover the massive increments predicted by industry experts. This should help mitigate fuel prices in April.— Smile90.4 FM (@Smile904FM) March 31, 2022 The intervention is across all fuels, meaning that R1.50 will also be shaved off our diesel prices for the next two months. On average, petrol prices were set to skyrocket by an estimated R2.11. However, Finance Minister Enoch Godongwana revealed that R1.50 would be knocked off the GFL. Cost were set to soar by R2-R3 per litre next month, but a reduction in the general fuel levy has brought that right down.

Prior to the second pause in 11 days, auto fuel rates had gone up by Rs 6.40 per litre.

Diesel - Rs 96.22 per litre Petrol - Rs 111.35 per litre Diesel - Rs 97.52 per litre The increase in ATF price comes on back of the steepest ever hike 18.3 per cent (Rs 17,135.63 per kl) effected on March 16. Petrol - Rs 107.45 per litre Petrol - Rs 116.72 per litre US West Texas Intermediate futures for May delivery settled down $7.54, or 7 per cent, at $100.28 a barrel, after touching a low of $99.66. Petrol - Rs 101.81 per litre Prior to the second pause in 11 days, auto fuel rates had gone up by Rs 6.40 per litre. At the same time, HPCL consumers can know the price by sending HPPrice to the number 9222201122. Prices had been on a freeze since November 4 ahead of the assembly elections in five states, a period during which the cost of crude oil soared by about USD 30 per barrel. This is the ninth increase in prices since the ending of a four-and-half-month long hiatus in rate revision on March 22.

The SA government has taken some bold steps to reduce the petrol price, including introducing a temporary R1.50 per litre reduction in the fuel levy, ...

The system effectively guarantees petrol retailers a set profit, which is one of the reasons SA has so many petrol stations and fuel providers. But even the small decrease by government in the petrol tax is going to cost a lot. In fact, the tax decrease won’t even entirely compensate for the rise due to be implemented.

Petrol and diesel prices on 1 April 2022: Petrol price in Delhi stands at Rs 101.81 per litre while diesel is available for Rs 93.07. In Mumbai, petrol is ...

On the first four occasions, prices were increased by 80 paise a litre - the steepest single-day rise since the daily price revision was introduced in June 2017. Petrol and diesel prices on 23 March 2022: Petrol price in Delhi stands at Rs 97.01 per litre while diesel is available for Rs 88.27. In Mumbai, petrol is retailing at Rs 111.67 while diesel costs Rs 95.85 Petrol and diesel prices on 29 March 2022: Petrol price in Delhi stands at Rs 100.21 per litre while diesel is available for Rs 91.47. In Mumbai, petrol is retailing at Rs 115.04 while diesel costs Rs 99.25 Petrol and diesel prices on 31 March 2022: Petrol price in Delhi stands at Rs 101.81 per litre while diesel is available for Rs 93.07. In Mumbai, petrol is retailing at Rs 116.72 while diesel costs Rs 100.94 On the following days, petrol price went up by 50 paise and 30 paise a litre while diesel rose by 55 paise and 35 paise a litre. Petrol and diesel prices on 1 April 2022: Petrol price in Delhi stands at Rs 101.81 per litre while diesel is available for Rs 93.07. In Mumbai, petrol is retailing at Rs 116.72 while diesel costs Rs 100.94 There was, however, no change in the price of petrol and diesel on Friday. Prior to the second pause in 11 days, auto fuel rates had gone up by Rs 6.40 per litre. Oil companies "will need to raise diesel prices by Rs 13.1-24.9 per litre and Rs 10.6-22.3 a litre on gasoline (petrol) at an underlying crude price of $100-120 per barrel," according to Kotak Institutional Equities. In all, petrol and diesel rices have gone up by Rs 5.60 per litre each. In all, petrol and diesel prices have gone up by Rs 6.40 per litre each. Petrol in Delhi costs Rs 101.81 per litre as against Rs 101.01 previously while diesel is priced at Rs 93.07 a litre, according to a price notification of state fuel retailers. Petrol and diesel prices remained unchanged on Friday after it was hiked by 80 paise a litre each on Thursday, taking the total increase in rates in the last 11 days to Rs 6.40 per litre.

South Africans face a financial double blow this month as record fuel prices and electricity tariff increases take effect. Customers who receive electricity ...

Instalments on devices will not be affected by the increase. The group has also indicated that it plans to ask for a further 15.07% increase in 2024 and a 10% increase in 2025. * A reduction in the GFL in diesel from R3.70/litre to R2.20/litre * A reduction in the GFL in petrol from R3.85/litre to R2.35/litre A hike of 17.80% for municipalities was implemented on 1 July 2021. The latest data from the Central Energy Fund shows the petrol price was expected to increase by between R1.73 – R1.81/litre in April. The price of diesel is expected to increase by R2.97 – R3.12/litre.