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South Africans can look forward to substantial fuel price savings from Wednesday, April 2, with both petrol and diesel decreases predicted.
Unaudited month-end data from the Central Energy Fund (CEF) is pointing to petrol price decreases in the region of 64 cents for 93 Unleaded and 78 cents for 95 Unleaded, while diesel is set to go down by between 90 cents (500ppm) and 92 cents (50ppm).
This should see 93 Unleaded retailing at around R21.45 in Gauteng and 95 Unleaded at R21.56, with a coastal price of about R20.77. The wholesale price of 50ppm diesel should recede to R18.53 at the coast and R19.29 inland.
The official fuel prices for April are set to be announced by the Department of Mineral Resources and Energy early this week.
The predicted decreases come largely as a result of lower international product prices, which contributed between 52 cents and 66 cents to the petrol price over-recovery and up to 80 cents to the anticipated diesel decrease.
A slightly stronger rand has also contributed around 12 cents to the price equation for April. However, factors such as the Slate Levy could have an impact on the final pricing structure.
Good news for motorists is that for the third year in a row there will be no increase in the General Fuel Levy or Road Accident Fund Levy, whose adjustments usually take place in April. However, Treasury has announced a three cent increase in carbon taxes for petrol and diesel.
Multiple forces weighed on international oil prices during the review month of March, with Brent Crude having hit six-month lows, falling beneath the $70 mark (R1,278) earlier in the month, on news that oil cartel OPEC+ intended to raise oil production.
However, while petrol price cuts in the region of R1 were looking likely earlier in March, the over-recovery was eroded later in the month after US President Donald Trump threatened to impose tariffs on Venezuelan oil importers, which saw oil prices rise to around the $73 mark.
April’s fuel price relief comes after a seven cent decrease at the beginning of March, which followed four consecutive months of price increases.
Stay tuned to IOL for the official petrol and diesel prices for April 2025.
IOL
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