Mineral and Petroleum Resources Minister Gwede Mantashe has announced a decrease in fuel prices across the board from April 2, based on current local and international factors.

The price of Petrol 93 (ULP and LRP) will decrease by 58c/ℓ, while the price of petrol 95 (ULP and LRP) will decrease by 72c/ℓ.

The diesel (0.05% sulphur) price will decrease by 83.80c/ℓ and the diesel (0.005% sulphur) price will decrease by 85.80c/ℓ.

The illuminating paraffin (IP) (wholesale) price will decrease by 81.70c/ℓ, the single maximum national retail price for IP by 114c/ℓ and the maximum liquid petroleum gas retail price by 79c/kg.

The main factors influencing the price changes in this period are the decrease in the average Brent Crude oil price and in the average international petroleum product prices.

The rand also appreciated on average against the dollar during the period under review compared to the previous one, leading to lower contributions to the basic fuel prices of petrol, diesel and IP.

Moreover, the slate levy remains unchanged at 0c/ℓ.

Finance Minister Enoch Godongwana announced in his Budget Speech in March that the fuel levy on petrol and diesel will remain the same at 396c/ℓ and 384c/ℓ respectively, while the Road Accident Fund levy on both petrol and diesel will remain at 218c/ℓ.

However, the carbon fuel levy will increase by 3c/ℓ to 14c/ℓ for petrol and 17c/ℓ for diesel.

Consequently, the fuel levies will increase to 399c/ℓ on petrol and 387c/ℓ on diesel with effect from April 2.

The Basic Fuels Prices octane differential has changed during the previous quarter and therefore the retail prices of 95 and 93 petrol octanes will be different in each fuel pricing zone with effect from April 2.

Mantashe has approved the implementation of revised zone differentials into the price structures of petrol, diesel and IP with effect from April 2.

The yearly adjustments to the transport tariffs applicable in petrol, diesel and IP price structures will range from an increase of 7.5c/ℓ in Magisterial District Pricing Zone 14C to an increase of 4.2c/ℓ for petrol and diesel, as well as 2.3c/ℓ for IP Zone 9C-Gauteng.