South African motorists can once again breathe a sigh of relief, as petrol and diesel prices are set to decrease in May.
According to various reports, this anticipated drop in fuel prices is attributed to lower international product prices. Additionally, the Rand has strengthened in recent days, while the price of Brent crude oil has significantly decreased.
The latest data from the Central Energy Fund (CEF) indicates an over-recovery in fuel prices, with petrol prices expected to drop between 10 and 14 cents per litre. Diesel prices are also projected to decrease by about 35 cents per litre, and illuminating paraffin shows an over-recovery of 27 cents per litre.
If market conditions remain stable for the rest of the month, motorists will experience their second consecutive month of price reductions, following a petrol price cut of 72 cents per litre in the previous month, which lowered the price of inland 95 petrol to R21.62 per litre.
Factor leading to petrol and diesel prices dropping in May:
1. The international price of petroleum products, driven mainly by oil prices
2. The rand/dollar exchange rate used in the purchase of these products
Oil price
At the time of publishing the brent crude oil price is $65.21 a barrel.
Exchange rate
At the time of publishing the rand/dollar exchange rate is R18.88/$.
The final overall price changes for both petrol and diesel will be confirmed early next month, with the new prices taking effect at midnight on Tuesday, 6 May 2025, as reported earlier by The South African.
How much are you paying for fuel every month?
Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1
Subscribe to The South African website’s newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
