Huge petrol price hike from Wednesday — but it could have been much worse

The Department of Mineral Resources and Energy has announced fuel price adjustments for June 2022, with substantial increases for motorists driving petrol and diesel vehicles.

From Wednesday, 1 June 2022, the retail prices of unleaded 95 and unleaded 93 petrol will increase by R2.33 and R2.43, respectively.

That will push the inland price of petrol to around R24 per litre and over R23 on the coast.

Motorists with diesel cars will be slightly better off, with wholesale prices increasing by R1.07 for 50ppm and R1.10 for 500ppm.

The price increases for petrol, diesel, and illuminating paraffin will be as follows:

  • Unleaded 95 petrol — Increase of R2.33
  • Unleaded 93 petrol — Increase of R2.43
  • 50ppm diesel — Increase of R1.07
  • 500ppm diesel — Increase of R1.10
  • Illuminating paraffin — Increase of R1.56

The table below summarises South Africa’s petrol price changes for June 2022.

Fuel price changes
May 2022 June 2022
Inland
93 Unleaded R21.51 R23.94
95 Unleaded R21.84 R24.17
Coast
93 Unleaded R20.86 R23.29
95 Unleaded R21.09 R23.42

The steep increases were driven by the Brent Crude oil price increasing from $104.78 to $115.00 compared to the previous assessment period.

The rand also weakened significantly against the dollar over the same period, from R14.90 to R15.95.

Fortunately, the National Treasury and the Department of Energy announced earlier today that the reduced general fuel levy (GFL) would be in place for another month.

The department also scrapped the demand-side management levy of 10 cents per litre on unleaded 95 petrol, providing a tiny bit of extra relief.

That avoided a potential devastating petrol price hike of close to R4, which would have been around a 20% increase.

The R1.50 reprieve will be extended until 6 July 2022 and then reduced to 75 cents until 2 August 2022.

From 3 August 2022, the regular GFL will apply, which means there will be no tax relief.

The table below shows how much more it will cost to refill petrol tanks of various common sizes at an inland fuel station in June 2022.

Price to fill up typical vehicle tanks
Tank size May 2022 June 2022 Increase
93 unleaded (inland)
45 litres R967.95 R1,077.30 R109.35
60 litres R1,290.60 R1,436.40 R145.80
80 litres R1,720.80 R1,915.20 R194.40
95 unleaded (inland)
45 litres R982.80 R1,087.65 R104.85
60 litres R1,310.40 R1,450.20 R139.80
80 litres R1,747.20 R1,933.60 R186.40

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Huge petrol price hike from Wednesday — but it could have been much worse