Motorists will breathe a sigh of relief from Wednesday as the cost of all grades of petrol is set to come down.
This is as the Minister of Mineral and Petroleum Resources, Gwede Mantashe, announced the adjustment of fuel prices based on current local and international factors with effect from Wednesday, 7 May 2025.
The price of petrol 93 (ULP and LRP) will decrease by 22c a litre while the price of 95 (ULP and LRP) will also come down by 22c a litre.
Currently, a litre of petrol 95 costs R21.62 in Gauteng. As of Wednesday, this will come down to R21.40 a litre.
At the coast, a litre of 95 petrol, which costs R20.79 a litre, will cost R20. 57 as of Wednesday.
Meanwhile, the price of Diesel (0.05% sulphur) will decrease by 42c a litre and that of Diesel (0.005% sulphur) will come down by 41c a litre.
The price of Illuminating Paraffin (wholesale) will decrease by 31c per litre.
The Single Maximum National Retail Price (SMNRP) for illuminating paraffin will see a 41c decrease and the maximum LPGas Retail Price will increase by 46c per kilogram.
“The average Brent Crude oil price decreased from $71.04 to $66.40 during the period under review,” said the Department of Mineral and Petroleum Resources.
It added that the tariff and trade war initiated by the United States which has raised global economic recession concerns, and a possible lower demand for crude oil, and oversupply of oil from non-Opec countries and the anticipated increase in oil production by Opec+ members were the main contributing factors for the fuel price adjustments.
“The average international petroleum product prices of petrol and diesel followed the decreasing trend of crude oil prices while the price of LPG increased due to higher freight (shipping costs) during the period under review,” said the department.
