Big hikes in fuel prices in SA and Namibia

As from tomorrow, both South African and Namibian motorists will have to pay more for fuel.

In South Africa, petrol prices will be hiked by R2.37 (93) and R2.57 (95) a litre, while diesel prices will rise by R2.31 (0.05% sulphur) and R2.30 (0.005% sulphur) a litre, the Department of Mineral Resources and Energy announced on Monday.

Paraffin prices will increase by R1.66 a litre, while the maximum LPGas retail price will fall by R2.18/kg.

In April, the South African government cut the petrol levy by R1.50 a litre in an effort to relieve the economic stress of surging fuel prices.

But from tomorrow, this has been lowered to only 75c - and the full levy will take effect from next month. The levy relief is costing government billions.

In Namibia, the price of petrol will increase by N$1.88 cents per litre, while the price of diesel will rise by N$1.34 per litre.

Therefore, prices at Walvis Bay, which is the port of entry, will increase to N$22.28 for petrol and N$22.77 for diesel.

The invasion of Ukraine in February has triggered an oil price shock. Russia is the world’s third-largest producer of crude oil, and it has been locked out of Western markets, pushing oil prices higher.

-Fin24

-Additional reporting by Phillepus Uusiku