The Minister of Mineral and Petroleum Resources, Gwede Mantashe, announced the fuel price adjustments for May 2025. These new prices will take effect from Wednesday, 7 May 2025.
Fuel Price Adjustments – May 2025
- Petrol 93 (ULP & LRP): Decrease of 22 cents per litre
- Petrol 95 (ULP & LRP): Decrease of 22 cents per litre
- Diesel (0.05% sulphur): Decrease of 42 cents per litre
- Diesel (0.005% sulphur): Decrease of 41 cents per litre
- Illuminating Paraffin (wholesale): Decrease of 31 cents per litre
- Single Maximum National Retail Price for Illuminating Paraffin: Decrease of 41 cents per litre
- Maximum LPGas Retail Price: Increase of 46 cents per kilogram
As a result, the price of 95 octane petrol in Gauteng will drop from R21.62 to R21.40 per litre, while at the coast, it will decrease from R20.79 to R20.57 per litre.
Factors Behind the Fuel Price Adjustments
The decline in fuel prices is mostly due to a drop in the average Brent Crude oil price, which fell from $71.04 to $66.40 per barrel during the review period. This decline stems from ongoing global economic concerns, particularly around a potential recession, driven by a tariff and trade war initiated by the United States.
In addition, a possible oversupply of oil from non-OPEC countries, coupled with an anticipated increase in production from OPEC+ members, contributed to downward pressure on international oil prices.
The average international petroleum product prices of petrol and diesel followed the decreasing trend of crude oil prices while the price of LPG increased due to higher freight (shipping costs) during the period under review,
These fuel price adjustments are expected to ease the financial burden on consumers and businesses across the country, providing welcome relief in the face of ongoing economic pressures.
