It’s been a fortnight since the Department of Energy handed the country its latest round of petrol price changes, which saw diesel drivers saving R0.75c/l while petrol drivers were neither granted amnesty nor were they punished. Considering South Africa’s recent track record, it’s hard to complain about a 1c increase – no matter who you are. But that’s in the past. The Department of Energy is set to pass judgement on the country’s fuel prices once again on Wednesday, 3 May. This time petrol drivers may not get off so easily.

At least, that’s what the Central Energy Fund’s data captured on 18 April has to say. Despite the recently strengthening Rand, the ever-rising cost of global oil prices isn’t doing the country any favours.

Start again in the Month of May

It’s worth mentioning that the stats below aren’t final and are eligible to change at a moment’s notice. These predictions come from the Central Energy Fund and are based on the current US Dollar/Rand exchange and the price of refined oil, globally. The Department of Energy decides the final prices at the end of each month, once it’s taken in any mitigating factors.

Here are your fuel price predictions (so far) for May 2023:

Petrol 95: increase of 74 cents per litre (R0.74)
Petrol 93: increase of 80 cents per litre (R0.80)
Diesel 0.05%: decrease of 40 cents per litre (R0.40)
Diesel 0.005%: decrease of 18 cents per litre (R0.18)
Illuminating Paraffin: decrease of 29 cents per litre (R0.29)

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As we say, these numbers are by no means final. There’s still plenty of time for the Rand to gain strength (or weaken) until the final prices are announced. Either way, next week’s predictions will set the course for May’s fuel prices.

Source: Central Energy Fund