South African motorists with diesel vehicles can expect the price of their fuel to decline in May, while people using petrol should expect to pay more.
This is according to unaudited mid-month fuel price data released by the Central Energy Fund on Thursday.
Commenting on the data, the Automobile Association of South Africa (AA) said stability on international petroleum markets and a stronger exchange rate have given fuel prices a breather.
“The current data shows the prospect of a welcome 32 cents-a-litre drop in the price of diesel, and 27 cents for illuminating paraffin,” the AA said.
Petrol has not fared as well, however, with a slight increase of 6 cents per litre predicted for next month.
The AA highlighted that the performance of the Rand against the dollar could potentially also push petrol towards a decline in pricing by the end of the month.
The Association said the Rand continued to strengthen, after gaining almost 50 cents against the US dollar since mid-March.
“Meanwhile, international petroleum prices have been stable over the same period, allowing the Rand to leverage its recent strength.”
The expected changes per litre of fuel are as follows:
- Petrol Unleaded 95 – Increase of 6 cents
- Petrol Unleaded 93 – Increase of 1 cent
- Diesel 500ppm – Decrease of 31 cents
- Diesel 50ppm – Decrease of 32 cents
- Illuminating Paraffin – Decrease of 26 cents
Record petrol prices
The AA reiterated its comments to the Parliamentary Portfolio Committee on Mineral Resources and Energy, in which it called for a review of both the fuel price structure and fuel taxes.
“Fuel is one of the most heavily-taxed commodities in South Africa. It is right and proper for the government to ensure that the pricing structure is still appropriate,” the AA said.
South African motorists were hit with big fuel price increases in April, which took the price of Unleaded 95 Petrol to a new record.
Currently, the inland fuel prices in South Africa are as follows:
- Petrol Unleaded 93 – R17.10
- Petrol Unleaded 95 – R17.32
- Diesel 500ppm – R14.77
- Diesel 50ppm – R14.81