Petrol price expected to increase in May

Motorist are encouraged to brace themselves for an increase in fuel prices.

MOTORISTS can expect to pay between one and six cents more for a litre of petrol next week. 

This is according to the Central Energy Fund’s (CEF) data that shows an under-recovery for both 93 and 95 petrol. 

• Petrol 95: increase of 6 cents per litre;
• Petrol 93: increase of 1 cent per litre;
• Diesel 0.05 per cent: decrease of 31 cents per litre;
• Diesel 0.005 per cent: decrease of 32 cents per litre;
• Illuminating paraffin: decrease of 26 cents per litre.

According to the fund, while the mid-month data serves as a snapshot, the Department of Energy makes adjustments based on a review of the full period.

Prices are affected by two main components the rand/dollar exchange rate, and changes to international petroleum product costs, largely driven by oil prices. Product prices for petrol have remained high, but flat, contributing to an 18-23 cents per litre under-recovery in the price.

Expected increases:

Extracted in full from: Petrol price expected to increase in May | Highway Mail