Thanks to ongoing conflict in the Middle East and fluctuating international oil prices ($96,12, or R1,572.73 a barrel at the time of writing), South African motorists should brace for even higher fuel costs in May, with the latest data from the Central Energy Fund (CEF) showing growing under-recoveries across all fuel grades.
The CEF’s latest daily snapshot, published on April 14, points to petrol price increases of about R2.62/l for 93-octane and R2.99/l for 95-octane. Diesel users face a far steeper rise, with 0.05% sulphur diesel expected to increase by R9.05/l and 0.005% sulphur diesel by R9.07/l.
Currently, 93-octane petrol — available only inland — is priced at R23.25/l, while 95-octane petrol costs R23.36/l inland and R22.53/l at the coast.
Wholesale diesel prices stand at R25.90/l for inland 0.05% sulphur diesel and R26.11/l for 0.005%, compared with coastal prices of R25.07/l and R25.35/l respectively.
Adding further pressure is the expected reinstatement of the government’s general fuel levy cut, after a temporary R3/l reduction across all grades of petrol and diesel. This would compound the projected increases, potentially pushing petrol prices towards R30/l and diesel closer to R40/l.
As always, these projections are subject to change before month-end, with the final fuel price adjustments for May set to take effect on Wednesday May 6.
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