A massive sigh of relief was collectively felt amongst motorists after it was announced that the government had provided further relief to motorists for two more months. However, those heading to the petrol pumps will still have to brace themselves as the price of petrol will still cost them between R1.07 and R2.43 more.
On Wednesday, the price of 95-octane unleaded petrol will see an additional increase of R2.33 a litre, while 93-octane unleaded petrol will increase by R2.43 a litre, as stated in an announcement made by the Department of Mineral Resources and Energy on Tuesday.
Those filling up their tanks with diesel will need to fork out an additional R1.10 per litre and R1.07 per litre respectively. For illuminating paraffin, you’ll need to add an extra R1.56 per litre to your calculations.
Fuel prices were expected to skyrocket to R4 per litre, but this massive blow was cushioned by the general fuel levy which had been extended for two more months, reports IOL.
Approximately R6 billion of the state’s strategic oil reserves were sold to fund the levy, with the latest intervention funded through ficus. Around R4.5 billion would be cut from the budget to help motorists tackle the soaring fuel prices, reports News24.
The price of petrol will be reviewed again in August.