Petrol and diesel prices jump in latest fuel increase
Sharp hikes driven by global oil prices despite fuel levy relief measures.
The Department of Petroleum and Mineral Resources (DMPR) has announced sharp increases in fuel prices, with petrol and diesel set to rise from Wednesday, May 6.
According to the South African Government News Agency, the hikes come despite government efforts to cushion consumers through an extension of the reduction in the general fuel levy.
Petrol 93 and 95 (ULP and LRP) will increase by R3.27 per litre, while both grades of diesel (0.05% and 0.005% sulphur) will rise by R6.19 per litre.
The price of illuminating paraffin will also climb, with wholesale prices increasing by R4.22 per litre and the single maximum national retail price rising by R5.63 per litre.
The maximum retail price of LPGas will increase by R5.07 per kilogram in Gauteng and R5.78 per kilogram in the Western Cape.
The department attributed the increases mainly to higher global oil prices, noting that the average Brent crude oil price rose from $93.67 to $101 per barrel during the review period.
This was driven by ongoing geopolitical tensions between the United States and Iran, along with supply disruptions caused by the closure of the Strait of Hormuz and damage to critical infrastructure.
International product prices followed the upward trend, with diesel and paraffin recording sharper increases due to higher demand and reduced supply from the Persian Gulf.
“These factors led to higher contributions to the basic fuel prices of petrol, diesel and illuminating paraffin,” the department said, according to SAnews.
Prices of propane and butane also increased due to constrained global supply linked to the Strait of Hormuz closure.
Meanwhile, the rand remained relatively stable against the US dollar, contributing less than one cent per litre to the overall increases.
Government has extended relief measures through reductions in the general fuel levy — R3 for petrol and R3.93 for diesel — to help offset rising costs.
