South Africa’s petrol price is a little like democracy. All of the choices are awful, but you must pick something or it all comes to a grinding halt. Just recently the country saw a minor price increase that was kept from being horrendous by a temporary tax holiday. Now, according to the latest data from the Central Energy Fund, we can expect a little relief at the petrol pump in May.
But only at the petrol pump. If you’re the sort who needs to stop at the diesel pump, you can expect a further increase instead. Because, just like in a democracy, we can’t always have what we want.
The fuel prices for the beginning of May are not yet final, but indications are that petrol will fall between about R0.30 (93) and R0.35 (95). Diesel’s increase is pegged at between R0.75 and R0.80, while illuminating paraffin will also go up. That one will see an increase of around R0.70.
It’s a bit of a mixed bag, but the fuel decrease/increase is still being buffered by that South African tax holiday. The country’s fuel levy was dropped by R1.50 across fuel types, but it’s only in effect until the end of May this year. Failing a government extension, we can expect fuel prices for June 2022 to jump by at least R1.50. Won’t that be fun?
The expected change in fuel pricing in South Africa next month hinges on the current price of Brent crude oil. That price has dropped in the past month, leading to our (probable) petrol price dip. The dip could have been more extensive, but SA’s Rand is taking a battering. The KwaZulu Natal floods last week are a factor in this, and ongoing load shedding isn’t helping our currency either. Still, barring a disaster next week, some of the country should experience a little relief. Until June’s fuel price comes along to demand greater access to wallets, anyway.