“The average Brent Crude oil price increased from 93.67 US Dollars (USD) to 101 USD during the period under review,” said a spokesperson from the Department of Mineral and Petroleum Resources. South African motorists are facing significant fuel price hikes, with diesel increasing by R6.19 per litre and petrol by R3.27 per litre, amidst ongoing global oil market volatility.
Key facts:
- Wholesale diesel prices will rise by R6.19 a litre to R32.10 in Gauteng and R31.22 on the coast.
- The petrol price (93 and 95 unleaded) will increase by R3.27 a litre.
- The average Brent crude oil price rose from $93.67 to $101 over the past month.
- Diesel fuel levy relief has been increased by 93 cents to R3.93 per litre, effectively reducing the diesel fuel levy to zero this month.
Motorists have responded to rising costs by reducing their fuel consumption significantly—by 35% in April alone. Fuel transactions dropped by 28% during this period as consumers adjusted their driving habits.
Robert Attwell, CEO of Discovery Insure, noted, “The data shows a clear and immediate response to higher petrol prices.” He added, “Even with the government’s effort to soften the impact by temporarily cutting the fuel levy by R3, consumers are tightening their belts by driving less, combining trips, and being more deliberate about when they use their cars.”
The government plans to halve the levy relief in June before phasing it out entirely in July. This change comes amid rising prices for illuminating paraffin, which will increase by R4.22, and LPGas prices that will rise by R5.07 per kg in Gauteng.
The prices of Propane and Butane have also increased due to limited global supply since the closure of the Strait of Hormuz. The situation remains fluid as officials monitor global oil market trends.
