Massive petrol price drop coming – South Africans to save big!

Cape Town – South African motorists can expect some relief at the pump in April 2025, with a 95-cent per litre petrol price cut on the horizon.

This comes as Brent crude oil prices have declined, averaging $75 per barrel so far this year — down from $81 per barrel during the same period last year.

According to reports, the drop in oil prices is driven by increased US tariffs on Chinese goods, steel, and aluminium, as well as concerns over global economic growth.

Additionally, the US has flagged copper imports as a national security concern, adding to global economic uncertainty.

Investec chief economist Annabel Bishop told Daily Investor that weaker global demand for oil, along with rising supply from OPEC+ and the US, is keeping prices in check.

Meanwhile, the rand’s relative strength against the US dollar — supported by expectations of US interest rate cuts — is helping to stabilise fuel costs in South Africa.

This week that the rand, which started February above R19/$, is now trading around R18,06/$.

Despite ongoing economic uncertainty, the combination of lower oil prices, increased global production, and a stronger rand is expected to ease fuel costs and help moderate inflation, The Witness reported

While a 3c/litre increase in the carbon fuel levy — raising it to 14c/litre for petrol and 17c/litre for diesel from April 2 — will take effect, its impact is likely to be cushioned by the weaker oil price and stronger rand. The latest budget announcement has left other fuel levies unchanged.

Earlier this month, petrol prices dropped by 7c per litre, while wholesale diesel prices decreased by between 17.5c and 23.5c per litre.

The final petrol and diesel price adjustments for April will be confirmed at the start of the month, with the new prices taking effect at midnight on April 1.