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While still at alarming levels, motorists would have had to pay much more at the pumps from Wednesday had it not been for a last-minute reprieve by the government which tabled a proposal to Parliament for a two-month extension of the reduction in the general fuel levy.
Just before the official fuel increase announcement on Tuesday, Treasury said in a joint statement with the Department of Mineral Resources and Energy, that it had written to the Speaker of Parliament requesting the tabling of a two-month proposal for the extension of the reduction in the general fuel levy.
Treasury said this would take the form of a continuation of the relief of R1.50 per litre for the first month, from 1 June until the sixth of July 2022.
It would then be followed by a downward adjustment of 75 cents a litre from 7 July to 2 August, before being withdrawn on 3 August 2022.
The government said it would continue to monitor the impact of the Russia/Ukraine conflict that continued to have an impact on energy and food prices and result in supply chain shocks.
Meanwhile, the Department of Mineral Resources and Energy confirmed the fuel price adjustments from midnight on Tuesday.
Spokesperson, Robert Maake, said a litre of 93 octane petrol would increase by R2.43 per litre, while 95 octane will go up by R2.33 per litre.
Diesel users will fork out between R1.07 and R1.10 more per litre, while users of paraffin will spend R2.08 more per litre at retail level.
Maake said among the factors contributing to the price adjustments included the Rand/US Dollar exchange rate, with the Rand having depreciated, on average, against the US Dollar from R14.90 to R15.95 Rand per USD during the period under review when compared to the previous one.
He said South Africa's fuel prices are adjusted on a monthly basis, informed by international and local factors.
International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including importation costs, e.g. shipping costs.
