Cape Town – Motorists are likely to face another petrol price increase from Wednesday, while diesel users could see significant relief at the pumps.
According to the latest fuel price outlook, petrol is expected to rise by about R1.05 per litre, while diesel prices could decrease by between R2.79 and R3.60 per litre, depending on the grade. The final adjustments will be announced by the Department of Mineral and Petroleum Resources.
The expected petrol increase is largely due to the phasing out of the government’s temporary fuel tax relief measures introduced in April. From June, R1.50 will be added back to the petrol tax and R1.96 to diesel, with a further R1.50 increase scheduled for July.
If the projections hold, 95 unleaded petrol could cost around R26.81 per litre at the coast and R27.68 in Gauteng. Diesel 500ppm could fall to about R27.69 per litre inland.
The adjustments follow steep fuel price hikes in April and May, driven by global oil price spikes linked to tensions in the Middle East and concerns over the Strait of Hormuz shipping route. Oil prices have since eased somewhat amid hopes of a peace agreement.
Meanwhile, Gwede Mantashe has proposed the creation of a state-owned fuel company as part of efforts to address fuel price volatility and reduce South Africa’s dependence on imported fuel.
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Compiled by Betha Madhomu
