South Africans can look forward to a small fuel price decrease in May, according to data released by the Central Energy Fund. This will however be of little consolation to motorists, who have been hit hard with a recent spate of hefty increases.
Although data released earlier in the month had pointed towards a slight petrol price increase for next month, the fuel price equation has since turned positive. According to late-month data, South Africans can expect a petrol price decrease of between 10 cents and 15 cents a litre, depending on how the rand and international oil prices fare between now and the end of this week.
Those with diesel vehicles are a little luckier, with the latest data pointing towards a decrease in the region of 34 cents a litre.
Keep in mind, however, that these predictions are based on preliminary data, which could change in the coming days.
“Stability on international petroleum markets and a stronger exchange rate have given fuel prices a breather,” the Automobile Association said earlier this month.
However, the association is calling for the government to review the current fuel price structure and its associated taxes.
“Fuel is one of the most heavily-taxed commodities in South Africa,” the AA said. “It is right and proper for the government to ensure that the pricing structure is still appropriate”.
Petrol prices are currently at an all-time high, with 95 Unleaded costing R16.61 at the coast and R17.32 in the inland regions, where 93 Unleaded sells for R17.10.