Fuel price decrease brings relief for consumers

Motorists can expect another fuel price decrease on Wednesday, May 7, the Department of Mineral and Petroleum Resources (SAPRA) stated.

According to Lebo Ramolahloane, national vice-chairperson of SAPRA, the reductions will offer much-needed relief for struggling motorists in challenging economic times.

ALSO READ: Make sure your car remains fuel efficient with a few checks

Fuel price adjustments will be as follows:

Petrol:

• 93 ULP and LRP: decrease of 22.00 c/litre

• 95 ULP and LRP: decrease of 22.00 c/litre

Diesel:

• 0.05% Sulphur: decrease of 42.00 c/litre

• 0.005% Sulphur: decrease of 41.00 c/litre

Illuminating Paraffin:

• Wholesale: decrease of 31.00 c/litre

• SMNRP: decrease of 41.00 c/litre

LPG (Liquefied Petroleum Gas):

• Maximum retail price: increase of 46.00 c/kg

“In a fragile economy such as ours, this is a welcome development that could ease inflationary pressures and provide a short-term boost in consumer spending power,” says Ramolahloane..

He added that with petrol down by 22 cents and diesel by up to 42 cents, the impact is tangible.

According to Ramolahloane, LPG will be the only fuel to show an increase, 46 cents per kilogram.

ALSO READ: Slight reduction in fuel price a possibility

“For example, a motorist filling a 50-litre tank of 95 unleaded petrol will now save about R11 per fill.

“Diesel users, particularly in logistics and agriculture, stand to benefit from reductions of over R20 per tank,” he says.

Ramolahloane notes that these lower input costs can support food security and job retention in fuel-intensive sectors such as agriculture, logistics, and public transport.

“For petroleum retailers, the increased volumes at service stations from consumers responding to lower pump prices are likely to boost revenue, particularly as retail margins remain stable.

“The global oil market is being influenced by geopolitical factors, notably the recent escalation in trade tensions between the United States and China.

ALSO READ: Fuel price decrease presents a breather for some

“The re-imposition of tariffs by the US has disrupted oil demand, especially from China, a major Brent crude importer, leading to excess supply and driving down prices.

“While we welcome the decline in prices, we must remain cautiously optimistic.

Global market volatility and local political uncertainty under the newly formed Government of National Unity require close monitoring,” Ramolahloane says.