Though the Minister of Energy has scrapped the Incremental Inland Transport Recovery System (IITRS) levy of 3 cents a litre, the petrol price is to increase by 7 cents a litre on Wednesday, 2 April.

However, the price of diesel is to decrease between 7,8 and 8,8 cents a litre.

According to the Department of Energy the pricing formula for this month’s fuel adjustment is due to the following factors:

• fuel levies and the Road Accident Fund levy as determined annually by the Minister of Finance;

• the cost of transportation which results in different prices for different areas (adjusted annually);

• the different prices for 93 and 95 octanes which are informed by cost of production (adjusted quarterly).

Based on current local and international factors, the fuel prices for April 2014 in the Gauteng zone will be adjusted as follows:

1. Diesel (0.05% Sulphur) will decrease by 8.8 cents/litre

2. Diesel (0.005% Sulphur) will decrease by 7.8 cents/litre

3. Petrol (93 octane) will increase by 5.0 cents/litre

4. Petrol (95 octane) will increase by 7.0 cents/litre