Thu. Jun 20th, 2019

Petrol price set to increase again: This is what you’re likely to pay in May

PETROL PRICE South Africa May 2019Oh good, a 55-cent-per-litre increase is on the cards for next month. The cost of oil is on the rise and it’s had a devastating impact on our petrol price.

petrol price set to increase again this is what youre likely to pay in may 1024x853 - Petrol price set to increase again: This is what you’re likely to pay in May

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That’s it, we’re all off to get ourselves a work-from-home job. The petrol price in South Africa is on course for a third substantial increase in a row, as May marks more misery for Mzansi’s motorists.

The Central Energy Fund (CEF) is expected to update their data on fuel costs later on Monday, but their reading from the weekend isn’t a pretty sight. Their numbers suggest that a 55-cent-per-litre increase is on the cards next month, with diesel also getting nudged-up by five cents per litre.

Expected petrol price for May 2019 in South Africa:

(All prices based on rand-per-litre)

Coastal regions

  • Petrol: R16.04.
  • Diesel: R14.37.

Inland regions

  • Petrol: R16.68
  • Diesel: R14.92.

Why the petrol price is set to increase

Despite an improved performance for the rand against the dollar – which managed to drop below the $1 : R14 threshold last week – it seems the rising demand for crude oil will end up shafting motorists in the next couple of weeks. The per-barrel price is now above the $70 mark, after flirting with $50 over the festive season.

Christmas was certainly a cheery time for fuel consumers, but that goodwill has not made it through to Easter. There will be no resurrection in the fortunes of ordinary South Africans looking for relief at the pumps.

Highest ever fuel hikes in South Africa

The bleak forecast comes just a couple of weeks after an eye-watering hike of R1.32-per-litre was enforced upon our drivers. Additional fuel taxes and a spluttering ZAR (indirectly influenced by Eskom’s shenanigans) piled the pressure onto the public, who are now facing the second-highest ever petrol price in Mzansi:

Last year saw the most expensive petrol price recorded in this country, when the cost of filling up reached R17.08p/l in Gauteng. Meanwhile, the single-highest monthly increase came in 2015, when fuel costs soared by R1.60p/l. Furthermore, a new “carbon tax” is also set to push prices up by nine-cents a litre in June: When it rains, it pours.

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