The Central Energy Fund (CEF) has confirmed that both grades of petrol will increase by 37 cents per litre for May 2023. The fund also revealed the other fuel price adjustments for the month, which will come as a welcomed relief for users of other types of fuel.
Consumers using diesel will spend less money to fill up their tanks after it was revealed that both grades of diesel will decrease on the first Wednesday in May.
Consumers using illuminating paraffin, both wholesale and retail as well as the price of gas will decrease in the fifth month of the year.
Fuel Price Adjustments For May 2023
- Both grades of petrol will increase by 37c
- Diesel 0.05% sulphur will decrease by 73c
- Diesel 0.005% sulphur is also expected to decrease by 47c
- Wholesale illuminating paraffin is to go down by 33c
- The Single Maximum National Retail price for illuminating paraffin will decrease by 44c
- The Maximum LP Gas Retail Price will decrease by R4.44
Several factors have contributed to an increase in the price of petrol. The average international product prices for Petrol increased while the prices for Diesel and Illuminating Paraffin decreased during the period under review.
One factor that led to an increase in the price of petrol was due to the Fuel Levy increase to 396.0 c/l in the price structure of petrol. The Fuel levy increased by 382.0 c/l in the price structure of diesel.
One factor that worked in the favour of consumers was the Rand to US Dollar exchange rate during the period of review.
The average Rand/US Dollar exchange rate for the period 31 March 2023 to 25 April 2023 was 18.1331 compared to 18.3045 during the previous period.
