Motorists in South Africa are set to benefit from lower fuel prices starting this Wednesday, as the cost of all grades of petrol is set to decrease.
Gwede Mantashe, the Minister of Mineral and Petroleum Resources, confirmed the adjustments, which will take effect on Wednesday, 7 May 2025. The changes come in response to current local and international market conditions.
The price of Petrol 93 (both ULP and LRP) will drop by 22 cents per litre, with the price of Petrol 95 (ULP and LRP) also falling by 22 cents per litre.
In Gauteng, where a litre of Petrol 95 currently costs R21.62, the price will decrease to R21.40 from Wednesday. At coastal locations, the price will reduce from R20.79 to R20.57 per litre.
Diesel prices will also see reductions: Diesel (0.05% sulphur) will drop by 42 cents per litre, while Diesel (0.005% sulphur) will decrease by 41 cents per litre.
The price of Illuminating Paraffin (wholesale) will fall by 31 cents per litre, and the Single Maximum National Retail Price (SMNRP) for illuminating paraffin will decrease by 41 cents per litre. However, the maximum retail price of LPGas will increase by 46 cents per kilogram.
According to the Department of Mineral and Petroleum Resources, the decrease in fuel prices can be attributed to several factors. “The average Brent Crude oil price dropped from $71.04 to $66.40 during the review period,” the department stated.
The global economic situation, including concerns over a potential recession triggered by the ongoing tariff and trade war initiated by the United States, has contributed to a potential decrease in crude oil demand. Additionally, the oversupply of oil from non-OPEC countries and the anticipated rise in oil production by OPEC+ members also played a significant role in the fuel price adjustments.
“The international prices for petrol and diesel followed the downward trend of crude oil prices, while the price of LPG rose due to higher freight costs during the review period,” the department added.
These adjustments come as a welcome relief for South African consumers, as the global oil market continues to experience fluctuations.
