Don't fill up yet – petrol and diesel price to drop this Wednesday

It’s finally that time of the month again, folks. Time for the Department of Mineral Resources and Energy (DMRE) to pass judgement on the country’s petrol and diesel price updates for March 2025. Fortunately, the DMRE has delivered a verdict that all South Africans will find agreeable.

As ever, the DMRE’s adjustments will only become official the minute the clock strikes twelve – meaning that you’ll want to hold off until Wednesday, 5 March before filling up. While the petrol price predictions throughout February, courtesy of the Central Energy Fund (CEF), showed price improvements for most grades of fuel, it was expected to increase for Petrol 93.

Marching to the Department’s drum

It’s worth mentioning that the CEF, a state-owned energy company, keeps track of the two largest economic factors that can inflate or deflate the price of fuel locally. The DMRE then assesses the information throughout the course of the previous month (i.e. February) and arrives at a decision come month’s end. As such, the DMRE cannot artificially sway the prices in one direction or another.

These factors impacting the price of fuel locally are the current Rand/US Dollar exchange rate and the price of unrefined oil globally. A weakening US Dollar is to thank for the resurgence of fuel prices throughout February, while the increasing price of oil internationally has stopped the recovery from going even further.

“The average international product prices for Petrol and Illuminating Paraffin increased, whilst Diesel decreased during the period under review. The Rand appreciated against the US Dollar during the period under review, on average, when compared to the previous period. The average Rand/US Dollar exchange rate for the period 31 January 2025 to 27 February 2025 was 18.5047 compared to 18.7343 during the previous period.”

The one aspect the DRME can control is the Self-Adjusting Slate Levy Mechanism, which will remain at R0.00c/l throughout March 2025.