May fuel price: Here’s what you’re likely to pay for petrol and diesel from Wednesday
South Africans are staring down another sharp fuel price hike from Wednesday, 6 May, with both petrol and diesel set to climb steeply — piling fresh pressure on already strained household budgets.
Latest data from the Central Energy Fund points to significant under-recoveries, translating into a likely petrol increase of around R1.88 per litre across both 93 and 95 Unleaded grades.
Diesel users are set to take an even heavier knock, with prices expected to surge by approximately R4.03 per litre, potentially pushing diesel to record highs.
If projections hold, inland motorists could soon pay about R25.24 per litre for 95 Unleaded, while coastal prices may reach R24.41. Diesel could climb to roughly R30.14 per litre in Gauteng, tightening the squeeze on transport, food prices and the broader economy.
While the final adjustment will be confirmed by the Department of Mineral and Petroleum Resources, the outlook is already raising alarm.
The spike is being driven largely by rising global oil prices, with Brent crude oil recently trading between $113 and $126 per barrel amid escalating tensions in the Middle East and stalled US-Iran negotiations.
Although government has extended temporary fuel tax relief for May, the cushion is thinning. The relief is set to be reduced in June and scrapped entirely by July — a move that could trigger even steeper increases in the coming months.
Economists warn this is more than just a fuel story. Higher pump prices are likely to ripple through the economy, driving up the cost of transport, food and essential goods.
With global uncertainty persisting and local relief measures fading, South Africans may need to prepare for a winter of sustained fuel price pressure — with little immediate relief in sight.
This article was originally posted by IOL
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