Get ready for changes at the pumps as the Department of Mineral Resources and Energy announces the latest petrol and diesel price, effective from May 1st, 2024.
Petrol and Diesel Price Trends
Throughout April, South Africa has experienced a varied pattern in fuel price adjustments, with petrol indicating an under-recovery and diesel showing an over-recovery.
- Petrol: Expect a 37 cents per litre increase.
- Diesel: Anticipate relief ranging from 30 to 36 cents per litre.
Detailed Changes
Here’s a breakdown of the adjustments:
- Petrol 93 – increase of 37 cents per litre
- Petrol 95 – increase of 37 cents per litre
- Diesel 0.05%(wholesale) – decrease of 30 cents per litre
- Diesel 0.005%(wholesale) – decrease of 36 cents per litre
- Illuminating Paraffin – decrease of 19 cents per litre
- LPGAS – decease of 46 cents per kg
Influencing Factors
International product prices for petrol have risen, while those for diesel and illuminating paraffin have declined during the review period. Moreover, the Rand experienced a depreciation against the US Dollar, contributing to increased Basic Fuel Prices for petrol, diesel, and illuminating paraffin.
Slate Balances and Levy Mechanism
The cumulative petrol and diesel Slate balances were at a negative balance of R 2.735 billion as of March 2024. To address this, a Slate Levy of 21.92 c/l (no change) has been factored into the pricing structures as per the Self-Adjusting Slate Levy Mechanism.
Pump Price Adjustments
Below are the updated pump prices for May 2024 (Note: Diesel prices reflect wholesale rates, actual pump prices may vary):
