SA has faced massive hikes in the price of petrol this year – Image: Pexels
SA has faced massive hikes in the price of petrol this year – Image: Pexels
Sorry, give us a moment… we’re just rubbing our eyes in disbelief, after seeing the terms ‘petrol price’ and ‘decrease’ in the same sentence for the first time in what feels like an eternity. A new fuel forecast issued for May 2022 brings us one bit of good news – and unfortunately, another slice of bad news.
Latest petrol price forecast for May 2022
East Cape Fuels, who are part of Engen’s fuel distribution network, shared their monthly predictions earlier on Wednesday. According to the latest market data, the petrol price for BOTH grades is set for a decease next month.
Sadly, that’s not the case for diesel. The wholesale price is on course to rise by a substantial amount, and the cost of paraffin is also going up. At this stage, May looks like it will be a real mixed bag for motorists.
Go on then, what’s the damage?
According to the ECF’s forecast, 93 Grade petrol will drop by 33 cents per litre. There’s even better news for those who use 95 Grade petrol – that’s going down by 35 cents per litre. For some consumers, this will be enough to bring their petrol price underneath the R21p/l for the first time in four weeks.
The celebrations will end there, though. The cost for ALL grades of diesel is on course to go up by an additional 72 cents per litre. Consumers based inland and away from the coast could, therefore, be paying just under R22p/l to fill their tanks us with this particular fuel. Illuminating paraffin, meanwhile, will increase by 66 cents.
Following state intervention in March, the petrol price for next month IS being offset by the lifting of fuel levy taxes. The R1.50p/l discount has gone a long way towards easing the pain, and for motorists who run their vehicles on petrol, it now looks like this move will lead to the first DECREASE in value of 2022.
What the forecasts say we’ll be paying for fuel next month…
Based on East Cape Fuel’s estimates, here are the forecast average petrol and diesel prices (per-litre) for May 2022:
INLAND:
- Petrol 93 – R21.30
- Petrol 95 – R21.64
- Diesel wholesale – R21.73
COASTAL:
- Petrol 93 – R20.78
- Petrol 95 – R20.89
- Diesel wholesale – R21.11
