South African motorists may face another steep increase in fuel prices in May, with early indicators pointing to a sharper rise in diesel costs.
Preliminary data from the Central Energy Fund suggests that diesel prices could once again climb significantly, potentially exceeding the increases recorded in April.
According to the outlook, Petrol 93 and Petrol 95 are expected to rise by approximately 43 to 47 cents per litre. However, diesel users are likely to be more heavily affected, with under-recoveries indicating a possible increase of more than R13 per litre.
Analysts say the main drivers behind the projected hikes remain unchanged, with ongoing conflict in the Middle East continuing to push global oil prices higher. At the same time, a weaker rand is further increasing the cost of imported fuel.
In April, government introduced a temporary reduction in the fuel levy to cushion consumers, a measure expected to cost the Treasury around R6 billion.
It is still unclear whether similar relief measures will be introduced for May as pressure mounts on household budgets and transport costs.