Cape Town — The Department of Mineral Resources and Energy (DMRE) confirmed the fuel prices for May, with petrol set to increase and diesel set to decrease.
Motorists are set for another difficult month on their pockets as both 93 and 95 unleaded petrol will increease by 37 cents per litre, while diesel (0.05%) will decreae by 30 cents per litre, and diesel (0.005%) will come down by 36 cents per litre, The Citizen reported.
Illuminating paraffin will also decrease by 19 cents per litre, while Liquified Petroleum Gas (LPG) will decrease by 46 cents per kilogram. The DMRE confirmed that several factors contributed to the increase and decrease in prices, both locally and internationally.
The DMRE said the Rand depreciated, on average, against the US Dollar (from 18.04 to 18.90 Rand per USD) during the period under review when compared to the previous one. This led to higher contributions to the basic fuel prices of all products by about 2.50 cents per litre for all products.
JUST IN: The price of petrol (both) will increase by 37 cents per litre, while diesel will decrease by 30 to 46 cents per litre. Paraffin will decrease by 25 cents at the retail level, and LP gas will decrease by 46 cents per kg. Effective from Wednesday pic.twitter.com/v4lRMEPIJ2
— Cliff the Reporter☀️ (@CliffShiko) April 29, 2024
According to SABC News, DMRE director, Robert Maake, explained the reasons behind the price increases, citing a higher demand in the northern hemisphere.
“These prices were affected by the higher oil prices and weaker rand during the period under review. The petrol prices are increasing mainly due to the higher demand for driving season in the northern hemisphere.” he said.
“The slate levy remains unchanged at 21,92 cents a litre on both petrol and diesel. We’ve also observed that the shipping costs were lower during the period under review compared to the previous period,” he added.
The price increase will take effect from midnight on Tuesday and be effective as of Wednesday 1 May.
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Compiled by Matthew Petersen
