Ongoing conflict in the Middle East and its impact on global oil prices are set to drive another round of fuel price hikes in South Africa in May.
According to the latest daily data from the Central Energy Fund (CEF), the price of 93-octane petrol is projected to rise by about R1.74/l, while 95-octane petrol could increase by about R2.05/l.
Diesel users are likely to be hit even harder, with the wholesale price of 50ppm diesel expected to climb by R5.18/l and 500ppm diesel by roughly R5.17/l.
Although these under-recoveries are lower than those reported earlier in April, they remain a significant concern for consumers and the broader economy. Diesel is critical to the freight and agricultural sectors, while both petrol and diesel underpin public transport and logistics. Higher fuel costs typically translate into increased transport expenses and, ultimately, rising food prices, as the cost of moving goods escalates.
There is some relief, however. The government has extended the temporary R3/l reduction in the general fuel levy until June 2.
In addition, the department of mineral resources and energy has confirmed a further intervention for diesel, extending tax relief by an additional 93c/l in May. This effectively reduces the diesel fuel levy to zero for the month.
If current projections hold, motorists can expect to pay — inclusive of the levy relief — about R24.99/l for 93-octane petrol and R25.41/l for 95-octane inland (R24.58/l at the coast). The wholesale price of 50ppm diesel could reach R30.36/l inland (R29.60/l at the coast), while 500ppm diesel may rise to R30.14/l (R29.31/l at the coast).
As always, these figures remain subject to change before month-end. Final adjustments will be confirmed by the department at the end of April, with the official May fuel prices set to take effect on May 6.
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