Here’s what you’re likely to pay for petrol and diesel in May

Here’s what you’re likely to pay for petrol and diesel in May

Petrol is set to become even more expensive from next Wednesday, May 1, while diesel customers can look forward to a bit of relief at the pumps.

This is the picture painted by unaudited month-end data released by the Central Energy Fund (CEF) on April 25.

Petrol is looking set to rise by around 36 cents per litre, while diesel is predicted to fall by between 30 cents, in the case of 500ppm, and 37 cents for the cleaner 50ppm.

These price adjustments will push the price of 95 Unleaded petrol up to R24.69 at the coast and R25.48 in Gauteng, where 93 Unleaded will rise to around R25.14.

The wholesale price of diesel should fall to about R21.47 at the coast and R22.23 inland, to which you’ll have to add a retail margin of at least R2.

“The decrease to diesel prices is especially welcome as it will not result in higher input costs across various sectors, and this won’t be a driving factor in consumer prices increasing,” the Automobile Association said.

Petrol prices have been on an upward trajectory in recent months, having increased by between 60 cents and 67 cents at the beginning of April, R1.21 in March and 75 cents in February.

May’s projected increases are mostly as a result of higher international petrol prices, with the weaker rand contributing just 2 cents to the under-recovery.

The official fuel price adjustments will be announced by the Department of Energy early next week and will come into effect on May 1.

IOL Motoring