The department of mineral and petroleum resources has confirmed that petrol will rise by R3.27 a litre this week, while diesel will increase by R6.19/litre, depending on the sulphur grade.
The adjustment follows price changes in April, when petrol increased by more than R3/litre and diesel by more than R7/litre.
After the May adjustment, inland petrol prices will move above R25/litre. Diesel will rise further, with inland prices approaching or exceeding R30/litre in some areas.
The department said the increase was based on higher international crude oil prices and changes in international fuel product prices during the review period as well as the rand slightly increasing against the dollar.
On the increase in crude oil prices, it said the average Brent crude oil rose from $93.67 (around R1 600) to $101 during the period under review.
“This is due to the continued tension between the US and Iran, the closure of the Strait of Hormuz and damage to other crucial infrastructure, which have affected crude oil supply.”
The department noted that the prices of middle distillates — diesel and paraffin — increased by more than petrol prices did because of higher demand and reduced supply from the Persian Gulf.
“These factors led to higher contributions to the basic fuel prices of petrol, diesel and illuminating paraffin by R2.04 per litre, R4.96 per litre and R4.21 per litre, respectively.”
Similarly, the prices of propane and butane increased due to limited global supply since the closure of the Strait of Hormuz.
The government’s fuel levy relief measures introduced in April remain in place until June. These include a R3/litre reduction on the general fuel levy for petrol and a R3.93/litre reduction for diesel.
The new fuel prices will take effect at midnight on Wednesday.
The department of mineral and petroleum resources has confirmed that petrol will increase by R3.27 a litre, while diesel will increase by R6.19a litre, depending on the sulphur grade
