Following speculation of a fuel price increase for May, the Department of Energy has confirmed that they will increase on 3 May. The decision was impacted by local and international factors. The Department highlighted that main reasons for the increases are:
- The weakening of the Rand against the US Dollar during the period under review which contributed about 25 cents per litre on the fuel price increases.
- The average increase in the prices of petroleum products in the international markets in line with the higher crude oil prices.
The cabinet reshuffle by President Jacob Zuma earlier this month weakened the Rand, and while it has somewhat recovered, the effects are still being felt by consumers.
The increases
The fuel price increases are as follows:
- Petrol (93 and 95 Octane, ULP and LRP) is set to increase by 49 cents per litre.
- Diesel (0.05% sulphur) will increase by 30 cents per litre.
- Diesel (0.005% sulphur) will see an adjustment of 32 cents per litre.
- Illuminating Paraffin wholesale price is set to increase by 34 cents per litre.
- SMNRP for illuminating paraffin will increase by 46 cents per litre.
- Maximum LPGas Retail Price will increase by 96 cents per kilogram.
The approximate petrol prices for May are:
The approximate diesel prices for May are:
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