R150 petrol price joy this December

South African motorists are paying between R80 and R142 less to fill their cars with unleaded 95 in December 2024 than last year, while filling diesel vehicles cost between R138 and R245 less.

Motorists in the country have suffered from relatively high fuel prices in recent years, with pricing dropping significantly between December 2023 and December 2024.

For reference, in December 2023, one litre of unleaded 95 cost R23.25, and one litre of 50ppm diesel cost R21.99. In December 2024, the price per litre for these fuels is R21.47 and R19.33, respectively.

While prices have dropped somewhat over the past year, the government plans to provide further relief to South African motorists.

In October 2024, Minister of Minerals and Petroleum Resources Gwede Mantashe said motorists in the country should be paying around R14 per litre, adding that the general fuel and Road Accident Fund (RAF) levies have distorted the price to around R20 per litre.

Speaking at the African Oil Week conference in Cape Town, Mantashe said fuel prices will continue to suffer from high fuel prices despite the reduction that hit in October.

He added that the government is investigating how to lower fuel prices further.

“In the fuel price, there is the general fuel levy, there is the Road Accident Fund, linked to the price of fuel. So instead of buying a litre of fuel for R14, you buy it for R20,” said Mantashe.

“Our argument is: you are distorting the price of fuel. Let’s find the formula for separating these two things and have the price of fuel visible.”

“We intend to conclude this discussion in the shortest possible time,” he added.

Following his address, he told the media that his department’s calculations suggest the fuel price should be R14 per litre.

Until such time as the government finds a viable way to lower fuel prices without creating major revenue generation problems, South African motorists will continue to pay higher fuel prices.

Despite this, fuel prices have dropped substantially between December 2023 and December 2024. MyBroadband calculated how much less motorists are paying to fill their tanks this December.

For our calculations, we used inland unleaded 95 and 50ppm diesel prices. We adjusted the diesel price by adding 15% to represent the retail margin added to the diesel price per litre.

Unleaded 95

Motorists with petrol-powered cars in South Africa are paying between R80 and R142 less per tank of unleaded 95 than they were at this time last year.

In December 2023, those with 45-litre tanks paid more than R1,000 to fill up, and they are now paying around R966.

The cost of filling 50 and 55-litre tanks has dropped from R1,163 and R1,279, respectively, to R1,074 and R1,181, meaning these motorists are spending between R89 and R98 less to fill their tanks in December 2024.

Motorists with larger 60- and 80-litre tanks are paying R1,288 and R1,718 to fill up, down from R1,395 and R1,860 in December 2023.

The table below compares the cost of filling various tank sizes with unleaded 95 petrol in December 2023 and December 2024.

Diesel 50ppm

Motorists who drive diesel-powered cars will be pleased to know that their savings in December 2024 are significantly higher than those with petrol-powered cars.

In December 2023, filling a 45-litre tank cost R1,138, and these motorists currently pay around R1,000.33 to fill their tanks.

Those with larger 50 and 55-litre fuel tanks are currently paying between R153 and R168 less per tank than they were this time last year.

Larger vehicles, such as bakkies and some SUVs, often feature large fuel tanks, which are commonly 60 litres or 80 litres.

Motorists with 60-litre tanks paid around R1,517 to fill their tanks in December 2023, but they are now paying around R183 less.

Those with larger, 80-litre tanks are paying around R245 less per tank of 50ppm diesel in December 2024.

The table below compares the cost of filling various tank sizes with 50ppm diesel in December 2023 and December 2024.