The latest official adjustments to fuel prices, issued by the Department of Mineral Resources and Energy, are set to take effect from Wednesday, May 1, 2024.
Throughout April, South Africa has experienced mixed fuel recoveries, with petrol reflecting an under-recovery and diesel showing an over-recovery.
This translates to a 37-cent per litre increase in petrol prices for May, while diesel prices will see relief ranging from 30 to 36 cents per litre.
During the review period, international product prices for petrol rose, while those for diesel and illuminating paraffin decreased.
The rand’s value against the US dollar declined on average compared to the previous period, with an average exchange rate of 18.9036 during the period from March 27, 2024, to April 25, 2024, compared to 18.8689 in the previous period.
Consequently, there was an increase in the Basic Fuel Prices for petrol, diesel, and illuminating paraffin by 2.59 c/l, 2.51 c/l, and 2.48 c/l, respectively.
| Fuel | Change |
| Petrol 93 | Up 37 cents |
| Petrol 95 | Up 37 cents |
| Diesel 0.05% (wholesale) | Down 30 cents |
| Diesel 0.005% (wholesale) | Down 36 cents |
| Illuminating Paraffin | Down 19 cents |
| LPGAS | Down 46 cents |
Oil prices lost more than $1 a barrel on Monday as Israel ceasefire talks in Cairo tempered fears of a wider Middle East conflict, while US inflation data dimmed the prospect of imminent interest rate cuts, Reuters reported.
Brent crude futures for June settled at $88.40 a barrel, falling $1.10, or 1.2%. The more active July contract ended at $87.20, losing $1.01 a barrel.
As of the end of March 2024, the combined cumulative slate balances for petrol and diesel stood at a negative balance of R 2.735 billion.
In accordance with the Self-Adjusting Slate Levy Mechanism, a Slate Levy of 21.92 c/l (unchanged) has been incorporated into the price structures.
See petrol and diesel price changes below:
| Inland | May 2024 official |
| 93 Petrol | R25.25 |
| 95 Petrol | R25.49 |
| Diesel 0.05% (wholesale) | R22.15 |
| Diesel 0.005% (wholesale) | R22.24 |
| Illuminating Paraffin | R16.00 |
| LPGAS (per kg) | R37.66 |
| Coastal | May 2024 official |
| 93 Petrol | R24.36 |
| 95 Petrol | R24.70 |
| Diesel 0.05% (wholesale) | R21.36 |
| Diesel 0.005% (wholesale) | R21.46 |
| Illuminating Paraffin | R15.00 |
| LPGAS (per kg) | R34.70 |
