Johannesburg: Motorists will breathe a sigh of relief from Wednesday as the cost of all grades of petrol are set to come down. This adjustment was announced by the Minister of Mineral and Petroleum Resources, Gwede Mantashe, who highlighted changes in fuel prices based on current local and international factors, effective from Wednesday, 7 May 2025.
According to South African Government News Agency, the price of petrol 93 (ULP and LRP) will decrease by 22 cents a litre, while the price of 95 (ULP and LRP) will also drop by the same margin. Currently, a litre of petrol 95 costs R21.62 in Gauteng, which will decrease to R21.40 a litre from Wednesday. At the coast, the price will reduce from R20.79 to R20.57 per litre.
Meanwhile, diesel prices will see a substantial decrease. Diesel (0.05% sulphur) will drop by 42 cents a litre, and Diesel (0.005% sulphur) will decrease by 41 cents a litre. Additionally, the price of Illuminating Paraffin (wholesale) will decrease by 31 cents per litre. The Single Maximum National Retail Price (SMNRP) for illuminating paraffin will experience a 41 cent decrease, whereas the maximum LPGas Retail Price will rise by 46 cents per kilogram.
The Department of Mineral and Petroleum Resources noted that the average Brent Crude oil price decreased from 71.04 US Dollars (USD) to 66.40 USD during the review period. The tariff and trade war initiated by the United States, which has raised global economic recession concerns, along with a possible lower demand for crude oil, oversupply from non-OPEC countries, and the anticipated increase in oil production by OPEC+ members, were identified as the main contributing factors for the fuel price adjustments.