It seems there is no stopping the runaway petrol price in South Africa: Since the turn of the year, fuel costs have been hit by an increase four times at the start of each new month – and that trend looks likely to continue in May.
Mzansi hit a record-high petrol price just last week, but that now looks likely to climb even higher.
HOW MUCH WILL THE PETROL PRICE INCREASE BY IN MAY 2021?
The smallest of all silver linings here is that these potential increases, forecast by the Central Energy Fund, will be much smaller than what we’ve seen in previous months. Indeed, in April alone, the per-litre petrol price soared by about R1. This time around, things look a little better – but these totals are still heading in the wrong direction.
Petrol is expected to creep up by another six cents per litre. There is some good news for diesel consumers, however: Decreases of up to 32 cents p/l are being predicted for May. Illuminating paraffin is also on course of a drop of 26 cents.
Why are we set for another petrol price increase?
Prices for petrol and diesel are currently on two separate trajectories, due to global markets. With international consumers more interested in the former over the latter, it’s sent each individual price in a different direction.
Diesel, traditionally a cheaper fuel to consume that petrol, will widen the gap even further if these trends stay in place.
THE FORECAST PETROL PRICE FOR MAY 2021
Taking these forecasts and first estimates into account, here’s what you can expect to pay, on average, for fuel on a price per litre basis – from the first week of May 2021 onwards. However, we have to stress that these mid-month estimates are liable to change by the time the Department of Energy set next month’s costs in stone.
- Petrol: R16.67
- Diesel: R13.84
- Petrol: R17.38 (It will be an all-time high for South Africa, beating last month’s record of R17.32)
- Diesel: R14.45