Petrol price increase expected at the end of May

The Automobile Association (AA) has quoted unaudited mid-month fuel price data released by the Central Energy Fund, stating that a slight increase is expected at the end of this month.

“The overall picture is of little change,” the AA said. “The rand has slipped marginally by 13 cents against the US dollar since the Department of Energy’s surprise early announcement of the May fuel price on Sunday, April 28.”

The international oil price has also varied this month, with the basic price of petrol falling by over 60 cents per litre before rising again after the election.

“For petrol, the rand’s weakness was mostly a counterpart of oil’s retreat, pointing to a seven cents-a-litre reduction at month end,” the AA said.

“Diesel fared worse, with a slight increase of 12 cents a litre on the cards, and illuminating paraffin showing a nine-cent rise.”

The AA added that the forthcoming Carbon Tax is due to be introduced in June 2019, and will result in an additional nine cents per litre being added to the petrol price and 10 cents to the diesel price.

Below are the expected petrol and diesel price increases for June 2019, factoring in the expected effects of the Carbon Tax.

  • Petrol increase of 2c per litre
  • Diesel increase of 22c per litre

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Petrol price increase expected at the end of May