Petrol and diesel prices were hiked at midnight on Tuesday, 31 January in another blow to suffering South Africans. Photo: Stock Image / Pixabay
Petrol and diesel prices were hiked at midnight on Tuesday, 31 January in another blow to suffering South Africans. Photo: Stock Image / Pixabay
The state’s decision to intervene in South Africa’s spiralling fuel costs is paying dividends. Well, for some of us, anyway. An early price forecast for May, published earlier today, now estimates that the value of petrol is set to decrease next month. However, the projections aren’t so friendly for diesel users.
A total of R1.50 has been wiped from the General Fuel Levy, and that act of mercy helped cushion a gargantuan petrol price hike that was slated for April. The tax suspension, which will come to an end on 1 June 2022, is now set to bring us our first fuel price decrease of the year
However, if these numbers hold true for the next two weeks, it means that we’ll see a rather peculiar imbalance at the pumps – because it now looks like diesel will become MORE EXPENSIVE than petrol in some regions.
According to the East Cape Fuel forecast, 93 Grade petrol will drop by 33 cents per litre. There’s even better news for those who use the 95 Grade – that’s going down by 35 cents per litre. For coastal 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. All of these estimates take into account the R1.50 per litre that has been removed from the General Fuel Levy – at least easing the burden on all motorists across Mzansi, if not removing it completely.
Diesel prices both inland and by the coast, therefore, will exceed the respective costs of diesel.