The Minister of Mineral and Petroleum Resources has officially announced the adjustment in fuel prices, effective from April 2, 2025.

The price reductions are driven by various local and international factors, including fluctuations in crude oil prices, exchange rates, and taxation policies.

New Fuel Prices Effective April 2, 2025

• Petrol 93 (ULP & LRP): Decrease of 58.00 c/l
• Petrol 95 (ULP & LRP): Decrease of 72.00 c/l
• Diesel (0.05% sulphur): Decrease of 83.80 c/l
• Diesel (0.005% sulphur): Decrease of 85.80 c/l
• Illuminating Paraffin (wholesale): Decrease of 81.70 c/l
• SMNRP for IP: Decrease of 114.00 c/l
• Maximum LPGas Retail Price: Decrease of 79.00 c/kg

South Africa’s fuel prices are reviewed monthly, reflecting the costs associated with importing crude oil and refined petroleum products. The latest adjustments are attributed to the following key factors:

Declining Crude Oil Prices

The average Brent Crude oil price decreased from $74.89 per barrel to $71.04 during the review period. This decline is mainly due to continued supply from non-OPEC countries and an expected moderate increase in output from OPEC+ producers in April.

Reduced International Petroleum Product Prices

Following the drop in crude oil prices, international petroleum product prices also fell. As a result, the Basic Fuel Prices (BFP) of petrol, diesel, and illuminating paraffin saw reductions of 66.36 cents per litre (c/l), 80.10 c/l, and 72.07 c/l, respectively.

Strengthening of the Rand Against the US Dollar

The Rand appreciated slightly against the US Dollar, moving from an average of R18.50 to R18.30 per USD. This contributed to lower BFPs for petrol (11.72 c/l), diesel (12.42 c/l), and illuminating paraffin (12.24 c/l).

Slate Levy Implementation

As of the end of February 2025, the cumulative slate balance for petrol and diesel stood at a surplus of R2.435 billion. Consequently, the slate levy remains at zero cents per litre for both fuels.

Fuel Levy, RAF Levy, and Carbon Fuel Levy Adjustments

The Minister of Finance confirmed in the Budget Speech on March 12, 2025, that the Fuel Levy and the Road Accident Fund (RAF) Levy would remain unchanged at 396 c/l and 218 c/l, respectively. However, the Carbon Fuel Levy will rise by 3 c/l, bringing total levies to 399 c/l for petrol and 387 c/l for diesel.

Changes in Octane Differentials

As per regulatory guidelines, adjustments to the Basic Fuel Prices (BFP) differentials for 95 and 93 Octane petrol will take effect from April 2, resulting in different retail prices across fuel-pricing zones.

Transport Tariff Revisions

Annual revisions to road and pipeline transport tariffs have been approved, leading to price increases ranging from 7.5 c/l in certain districts to 4.2 c/l for petrol and diesel, and 2.3 c/l for illuminating paraffin in Gauteng.