At midnight the price of petrol 93 (ULP & LRP) will decrease by 58 cents a litre and the price of petrol 95 (ULP &LRP) will drop 72.00c/l. (File photo)
South African motorists will get huge relief at the pumps when fuel prices drop significantly on Wednesday, 2 April.
The department of mineral resources and energy announced the latest fuel price adjustments on Tuesday.
At midnight the price of petrol 93 (ULP & LRP) will decrease by 58 cents a litre and the price of petrol 95 (ULP &LRP) will drop 72.00c/l.
The price of diesel (0.05% sulphur) and diesel (0.005% sulphur) is set to decline by 83.80c/l and 85.80c/l respectively.
The wholesale price and the Single Maximum National Retail Price (SMNRP) of illuminating paraffin will drop by 81.70c/l and R1.14 a litre respectively, while the maximum LP Gas retail price will decline by 79c/kg.
The department said the main reasons for the fuel price adjustments are because of the drop in the international price of crude oil and petrol products and the appreciation of the rand in recent weeks.
“The average Brent Crude oil price decreased from $74.89 US to $71.04 during the period under review. The main contributing factors are the continued supply from non-Opec countries as well as anticipated increase in supply, though moderate, from Opec + producers in April 2025,” the department said.
The average international petroleum product prices followed the decreasing trend of crude oil prices. This led to lower contributions to the basic fuel prices of petrol, diesel and illuminating paraffin by 66.36c/l, 80.10c/l and 72.07c/l, respectively.
In addition, the rand appreciated on average against the dollar from R18.50 to R18.30 during the period under review compared with the previous one. This led to lower contributions to the basic fuel prices of petrol, diesel and Illuminating paraffin of 11.72c/l, 12.42c/l and 12.24c/l respectively.
The department said the cumulative slate levy amounted to a positive balance of R 2.435 billion for petrol and diesel at the end of February 2025.
“In line with the provisions of the Self-Adjusting Slate Levy Mechanism, a slate levy remains unchanged at zero cents per litre in the price structures of petrol and diesel with effect from the 2 April,” the department said.
