Diesel prices in South Africa are set for a record increase, with projections indicating a rise of over R5 per litre in May. This surge follows ongoing global oil market instability linked to conflicts in the Middle East.
The price of 50ppm diesel is projected to rise by approximately R5.18 per litre. Meanwhile, 500ppm diesel could increase by around R5.17 per litre. Wholesale diesel prices are expected to exceed R30 per litre in several regions.
The South African government has extended temporary fuel levy relief measures, reducing the diesel fuel levy to zero for May. Current projections also indicate that 93-octane petrol will rise by about R1.74 per litre, while 95-octane petrol is expected to increase by roughly R2.05 per litre.
If current projections hold, 50ppm diesel will cost R30.36 inland and R29.60 at the coast. However, the government plans to gradually phase out fuel levy relief, reducing it in June and removing it entirely by July.
Rising global oil prices linked to Middle East conflict are driving local fuel increases. The latest daily snapshot from the Central Energy Fund points to diesel increases of around R7.07 per litre, suggesting significant volatility in the market.
The diesel increase is likely to be reduced to around R4 per litre by month-end if oil prices remain stable. Confirmation of the exact fuel prices will be made at the end of April.
Clean Mobility Innovations (CMI) emphasized that waiting for enforcement is not a strategy; it is a liability. Their statement highlights concerns regarding the impact of rising fuel costs on diesel fleet performance and emissions reduction efforts.
