Diesel to drop but petrol to rise at midnight

As has been the trend recently, motorists driving diesel cars will enjoy a big fuel price cut in May, while petrol drivers will be hit with another hike.

The Central Energy Fund (CEF) announced a 73.4c/l decrease in the wholesale price of high-sulphur 0.05% diesel and a 47.54c/l decrease for low-sulphur 0.005% diesel. The price of illuminating paraffin decreases 44c/l .

There is a 37c/l increase in the price of both grades of petrol (93 ULP and 95 ULP), breaching the R23/l mark inland for the first time in 2023.

The price changes come into effect at midnight.

The CEF attributed the changes to the average international product prices for petrol increasing during the period under review, while diesel and illuminating paraffin decreased. The rand appreciated against the US dollar during the period.

“The minister of finance, in his budget on February 22 2023, announced that an increase of 1.0 c/l will be made to the General Fuel Levy (Carbon Levy) in the price structures of both petrol and diesel,” said the CEF

“Furthermore, an increase of 1.0 c/l will be added to the petrol and diesel price structures to allow the industry to recoup the levy payment for April 2023. This additional 1.0 c/l will be removed from the price structures of petrol and diesel from June 7 2023. From May 3 2023, the fuel levy will increase to 396 c/l and 382.0 c/l respectively in the price structure of both petrol and diesel.”

From May 2 the following prices will apply for fuel:

INLAND

95 ULP — R23.34

93 ULP — R23.01

Diesel 0.05% (wholesale) — R20.15

Diesel 0.005% (wholesale) — R20.49

COAST

95 ULP — R22.62

Diesel 0.05% (wholesale) — R19.43

Diesel 0.005% (wholesale) — R19.78