Motorists filling up with petrol will face higher fuel costs from Wednesday, while diesel users are set to benefit from significant price reductions.
The Department of Mineral and Petroleum Resources has announced that both grades of petrol will increase by R1.43 per litre, adding further pressure to consumers already grappling with rising living costs.
In contrast, diesel prices will decrease by between R2.62 and R3.25 per litre, offering relief to motorists and industries that rely heavily on diesel-powered vehicles.
The department also confirmed reductions in the prices of other fuels. Illuminating paraffin will decrease by R5.96 per litre at the wholesale level, while the maximum national retail price will drop by R7.95 per litre. The maximum retail price of LP gas will also fall by 17 cents per kilogram.
Department spokesperson Lerato Ntsoko said the fuel price adjustments were influenced by movements in global oil markets and domestic economic factors.
According to the department, the average Brent crude oil price rose from US$101 to US$104.59 per barrel during the period under review. The increase was largely driven by ongoing geopolitical tensions, including developments involving the United States and Iran.
Despite the higher oil price, the rand strengthened slightly against the US dollar, appreciating from an average of R16.65 to R16.52 per dollar over the same period.
The latest fuel price adjustments also reflect changes to government’s fuel levy relief measures. In line with an announcement by Finance Minister Enoch Godongwana, the general fuel levy relief has been reduced by R1.50 per litre for petrol and R1.96 per litre for diesel.
The revised levy relief measures will be in effect from 3 June until 30 June.
While diesel users are expected to benefit from lower fuel costs, the increase in petrol prices is likely to place additional strain on household budgets and transportation expenses across the country.