There is more bad news for fuel users ahead of May.
According to mid-month data from the Central Energy Fund (CEF), both grades of petrol will rise. 93 unleaded will go up by 37c/l and 95 unleaded by 38 c/l. This will push the price close to around R25,15/l and R25,50/l, respectively. The new prices will take effect on 1 May 2024.
As for diesel, this fuel type’s price is set to decrease by 35c/l. At the same time, illuminating paraffin is set to come down by 28c/l.
To fill a 45-litre car petrol tank will cost a motorist R1147,50 if the forecasted figures become a reality.
Again, if the predictions come into effect in the next two weeks, this would mean that the price of inland petrol would have risen by a staggering R3,33 since increases started in February.
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The Automobile Association’s Eleanor Mavimbela said fuel prices have reached record-high increases over the past 3 years.
“A review of the data shows that the expectant increases in this cycle under are a result of fluctuations in international product prices that took a sharp upward trajectory at the beginning of the month. The relative stability of the Rand against the US Dollar in the early part of the month is contributing only a small margin to the expected increases,” said Mavimbela
The AA added that the predicted price adjustments reaffirm its belief that a review of the fuel price structure is needed. The aim should be to establish if any components within the current pricing model can be revised by the Department of Mineral Resources and Energy (DMRE) to mitigate against rising costs.
