By Lehlohonolo Lehana.
South African fuel prices will see massive increases, with petrol (93 and 95) rising by R3.27 per litre and diesel increasing by R6.19 per litre, despite increased fuel levy relief.
These increases will see the cost of petrol jump to R26.63 per litre, while diesel has officially breached the R30 per litre mark with a record-high wholesale price of R32.30.
These hikes are driven by surging international oil prices, with crude surpassing $100 USD.
The rand/dollar exchange rate showed a degree of resilience over the period, with the rand mostly range-bound around R16.50 to the dollar.
However, weakness crept in as the US Fed held interest rates, signalling higher inflation on a longer-than-hoped-for war.
Because of prevailing market conditions, as well as adjustments to the slate levy, motorists are set to suffer another month of massive pump price increases.
The fuel levy for petrol remains reduced by R3.00 per litre, while the levy for diesel has been reduced to zero, taking an additional 93 cents off the per litre price.
However, this relief was offset by a significant adjustment to the slate levy, which added R1.23 to fuel prices.
The new fuel price adjustments will take effect later this week, on Wednesday, 6 May 2026.
The silver lining is that, while these are enormous fuel price increases, they are substantially lower than the Central Energy Fund’s (CEF’s) previous estimates.
At the start of April, the CEF warned that diesel could jump over R13 per litre, while petrol would have gone up by R4.69 per litre. Be that as it may, motorists will still experience a lot of pain when they visit the pumps this month.