Earlier this week, Minister Gwede Mantashe announced the adjustment of fuel prices that took effect from Wednesday, 5 March 2025.
The announcement was welcomed by cash-strapped motorists who’ve had to contend with five months of consecutive fuel price increases.
Fuel Price Adjustments - March 2025
- The price of Petrol 93 decreased by 7 cents per litre.
- The price of Petrol 95 decreased by 7 cents per litre.
- The wholesale price of Diesel 0.05% has decreased by 17.5 cents per litre.
- The wholesale price of Diesel 0.005% has decreased by 23.5 cents per litre.
- The wholesale price of Illuminating Paraffin decreased by 6 cents per litre.
- The price of LPGAS is 2 cents per kg.
While the decrease in fuel prices will be welcomed by consumers, stakeholders noted that the price per litre of petrol is still more than 30 cents per litre higher than it was at the beginning of 2025.
The Road Freight Association welcomed the decrease in the price of fuel, especially diesel.
The association Gavin Kelly explained that diesel is the main fuel used in the transport industry. Manufacturing also relies on fuel which reduces the cost of production.
Any decrease in fuel prices – whether it’s petrol or diesel, which is the main fuel used in the transport industry or illuminating paraffin or benzene depending on what types of equipment is used – is always a good note to have. It reduces pressure on prices and on the transportation of prices.
Why The Petrol Price Decreased In March
Fuel prices in South Africa are influenced by several factors, including the price of Brent Crude Oil, production levels from the Organization of the Petroleum Exporting Countries (OPEC), and exchange rates.
Fuel price declines in March were due to a combination of factors including a drop in global crude oil prices due to lower demand and increased supply.
The main contributing factors are the continued lower global demand and oversupply from non-OPEC countries. Furthermore, the Russia/Ukraine ceasefire negotiations could result in a possible increase in the global supply of crude oil.
The Rand was also slightly stronger against the US dollar during the review period.
While crude oil prices fell, international petrol prices saw a slight increase due to US refinery maintenance.
The average international petroleum product prices of petrol increased due to refinery shutdowns and maintenance in the US in preparation for the switching to summer fuel grade. The prices of diesel followed the decreasing trend of crude oil.
The slate levy remains at zero, and the Illuminating Paraffin Tracer Dye Levy has been reduced.
