Cape Town – South African motorists will see lower fuel prices in May, with petrol dropping by up to 19 cents per litre and diesel by 37 cents per litre.
The decline is driven by falling global oil prices, triggered by US President Donald Trump’s tariffs on imports, which have weakened global trade and oil demand, reports say.
The Central Energy Fund (CEF) monitors oil prices and the rand-to-dollar exchange rate to estimate upcoming fuel price adjustments in South Africa.
According to its most recent projections, motorists can expect the following fuel price changes in May:
- Petrol 93 – decrease of 18 cents per litre
- Petrol 95 – decrease of 19 cents per litre
- Diesel 0.05% – decrease of 37 cents per litre
- Diesel 0.005% – decrease of 37 cents per litre
Although the rand has fluctuated against the dollar, a recent recovery below R19/USD, improved investor confidence in South Africa’s Government of National Unity, and higher gold prices are helping the country’s short-term economic outlook.
Experts note that lower energy import costs and eased inflation concerns are positive, despite weaker prices for some exports like platinum and coal.
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Compiled by Betha Madhomu
