By: Natasha Archary

Motorists will need to fork out 37c more per litre of both grades of petrol in South Africa, while diesel prices fall yet again.
For the second month in succession, the prices of 93 unleaded petrol (ULP) and 95 ULP has gone up by a significant amount, while diesel users were spared somewhat.
In April, the cost of 93 (ULP) and 95 ULP increased by 65c/l.
This meant motorists were paying R24.78c/l and R25.12c/l respectively for 93 ULP and 95 ULP.
Hoping to be spared from another fuel price increase, South African motorists were left disgruntled after Minister of Mineral Resources and Energy, Gwede Mantashe announced fuel prices for May.
With the latest increases in 93 and 95 ULP, motorists will now be paying R25.15/l and R25.49/l respectively.
Fuel price adjustments for May 2024
- Petrol (93 ULP & LRP): thirty-seven cent per litre (37.00 c/l) increase.
- Petrol (95 ULP & LRP): thirty-seven cents per litre (37.00 c/l) increase.
- Diesel (0.05% sulphur): thirty cents per litre (30.00 c/l) decrease.
- Diesel (0.005% sulphur): thirty-six cents per litre (36.00 c/l) decrease.
- Illuminating Paraffin (wholesale): nineteen cents per litre (19.00 c/l) decrease.
- SMNRP for IP: twenty-five cents per litre (25.00 c/l) decrease.
- Maximum LPGas Retail Price: thirty-seven cents per kilogram (46.00 c/kg) decrease
Mantashe pinned the petrol price increases to the per barrel cost of Brent Crude oil which increased from $84.22 to $88.10.
There was also volatility in the market, Rand volatility and tensions in the Middle East which affects the fuel prices.
The Rand depreciated, on average against the US Dollar from R18.04 to R18.90, leading to higher contributions to the Basic Fuel Prices of all products.
As at the end of March 2024, the cumulative slate amounted to a negative balance for petrol and diesel of R 2.73 billion.
In line with the provisions of the Self-Adjusting Slate Levy Mechanism, a slate levy of 21.92 c/l will remain unchanged in the price structures of petrol and diesel with effect from the 1st of May 2024.
The fuel price adjustments for May will take effect from midnight on 01 May 2024.
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