South Africa increase petrol, diesel prices after five months of reduction

South Africans will be buying fuel at a higher price as the Ministry of Resources and Energy has confirmed the increment of PMS.

The increment comes after citizens had enjoyed five months of pump price reduction.

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Motorists will now have to pay 25c/l more for both grades of petrol (93 and 95 octane) while the wholesale prices of diesel will increase 20c/l for low sulphur 50ppm fuel and 21c/l for 500ppm sulphur diesel.

South Africa’s president Cyril Ramaphosa had mentioned that the government intended to reduce fuel cost as a means of tackling poverty and the high cost of living.

Although Ramaphosa did not provide details on the method the government was considering or when the policies may be implemented, the Mineral and Petroleum Resources Minister, Gwede Mantashe reiterated the government’s plan during a parliamentary question and answer session.

The Minister said that part of the policies the government introduced to reduce fuel costs was the reduction in the cost of shipping fuel from international markets last year; this led to a drop of 15 per cent premium from the freight rate.

Henry van der Merwe, The chairperson of the SA Petroleum Retailers Association (SAPRA) said the slight increase reflects current shifts in the global and local fuel markets.

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“While we always advocate for stability, these fluctuations are an inherent part of the broader energy landscape, and we remain committed to supporting consumers and businesses through this period,” he noted.

While acknowledging the challenges that fuel increment will pose to individuals and businesses, van der Merwe emphasized the importance of resilience and adaptability in the face of market dynamics, stressing that residents must withstand the difficulties and adjust to the new realities.