There’s some good news for motorists after the Department of Mineral Resources and Energy announced that the price of petrol will decrease by 12 cents a litre from Wednesday, 4 May, however, diesel will increase.
According to the Department, South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors.
“International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including importation costs, like shipping costs,” the Department said.
Decrease:
The Department further mentioned that the Rand appreciated, on average, against the US Dollar (from 15.02 to 14.90 Rand per USD) during the period under review when compared to the previous one.
“This led to lower contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 10.18 c/l, 11.96 c/l and 11.57 cents per litre, respectively,” the Department added.
Meanwhile, the ongoing Russia – Ukraine conflict continues to affect fuel prices globally, the temporary reduction in the general fuel levy of R1.50 announced by the Minister of Finance in consultation with the Minister of Mineral Resources will continue during the month of May, until Tuesday the 31st of May 2022. However, the total fuel levy will remain 244.00 c/l for petrol and 230.00 c/l for diesel during this period.
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