Petrol price to remain steady in May

While petrol predictions show little change at the pumps this May, the forthcoming carbon tax to be introduced on 5 June will add an additional nine cents a litre to the petrol price, and ten cents to the diesel price, Northglen News reports.

This is according to the Automobile Association (AA), which quotes unaudited mid-month fuel price data released by the Central Energy Fund.

“Our hope is that the new government will immediately set out its policy agenda which has a direct impact on fuel prices,” said the AA.

Meanwhile, the petrol price seems steady for the remainder of May.

“The Rand has slipped marginally by thirteen cents against the US dollar since the Department of Energy’s surprise early announcement of the May fuel price on Sunday, April 28,” said the AA.

According to the Association, the international oil price has also ebbed and flowed, with the landed basic price of petrol dropping by over 60 cents per litre in the first days of May before regaining ground after the election.

“The result is a mixed picture. For petrol, Rand’s weakness was mostly a counterpart of oil’s retreat, pointing to a seven cents-a-litre reduction at month end. Diesel fared worse, with a slight increase of 12 cents a litre on the cards, and illuminating paraffin showing a nine-cent rise.”