Motorists are set to face another significant fuel price hike on Wednesday, driven largely by rising global crude oil prices and ongoing geopolitical tensions, including strained relations between the United States and Iran and disruptions linked to the closure of the Strait of Hormuz.
The adjustments come as international supply chains continue to face pressure, pushing up the cost of imported fuel.
According to the Department of Mineral and Petroleum Resources, petrol will increase by R3.27 per litre, while diesel will rise by a sharper R6.19 per litre. The increase applies to both low- and ultra-low sulphur diesel, which is widely used in transport, agriculture and industrial sectors.
Illuminating paraffin, a key energy source for many households, will also rise by R4.22 per litre.
Spokesperson Robert Maake said the adjustments are in line with the country’s self-adjusting slate mechanism, which is used to recover under-recoveries incurred by fuel importers and wholesalers.
“The main drivers are higher average oil prices during the review period, which pushed up the cost of all fuel products. The rand remained relatively stable against the US dollar, and a slate levy of 1.23 cents will be implemented in the price structures of petrol and diesel effective 6 May,” Maake said.
Finance Minister Enoch Godongwana previously confirmed that the temporary R3 per litre reduction in the general fuel levy for petrol will remain in place until 2 June. Diesel relief has been increased by 93 cents per litre.
However, the relief measures will be reduced from June and are expected to be fully phased out by July. From 3 June to 30 June, petrol relief will drop to R1.50 per litre, while diesel relief will decrease to R1.96 per litre.
Officials say the changes reflect efforts to balance consumer relief with fiscal sustainability amid volatile global oil markets.