Motorists to expect another decrease in fuel prices in the month of May

Petrol prices set to surge on Wednesday, 7 February 2024

Estimated reading time: 2 minutes

South African motorists saw a substantial drop in fuel prices at the start of April, with petrol falling by up to R1.88 and diesel by R1.35, 

While many people could not enjoy the benefit of the decrease, it seems that a further decrease is on the cards for the month of May.

In fact, the latest data from the Central Energy Fund indicates that motorists can expect yet another massive cut in the petrol price. While freedom of movement is still restricted, the cuts in fuel prices presents good news for certain sectors of the economy which will be opening up again beginning next week.

According to the data, compiled for April 27, we can expect the following decreases as of May 6:

  • 95 Petrol: decrease of R1.74 per litre
  • 93 Petrol: decrease of R1.70 per litre
  • 0.05% diesel: decrease of R1.51 per litre
  • 0.005% diesel: decrease of R1.46 per litre
  • Illuminating Paraffin: decrease of R2.12 per litre

According to reports, the price cuts are due to continued pressure on international oil prices. This apparently outweighs pressure on the rand versus the dollar. Furthermore, due to the COVID-19 pandemic, the demand for oil has dropped significantly.

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