South African motorists may be heading for another severe fuel price increase in May, with the latest projections pointing to further pain at the pumps as global oil markets remain under pressure.
The latest Central Energy Fund data released on 6 April shows under-recoveries continuing to widen, raising concerns that fuel costs could climb sharply once the next monthly adjustment takes effect.
Diesel prices may climb above R42 per litre
Current projections suggest that 93 unleaded petrol could rise to around R30.35 per litre, while 95 unleaded may reach R31.06.
Diesel prices are expected to face even sharper increases.
According to the latest forecast, 0.05% sulphur diesel may increase to R41.97 per litre, while 0.005% diesel could rise to R42.24.
These figures follow the sharp increases already implemented in April after global crude oil prices surged amid ongoing geopolitical tensions in the Middle East. The Department of Mineral and Petroleum Resources previously confirmed a major April increase, alongside a temporary R3 fuel levy relief measure that remains in effect until 5 May.
Should this temporary levy relief fall away in May, motorists may face an additional jump.
Authorities warn against storing petrol at home
As fears of further price hikes spread, some consumers have reportedly begun filling containers and stockpiling fuel.
However, the South African Insurance Association has strongly warned against storing large quantities of petrol at private residences.
Improper storage significantly increases the risk of fire, explosion, toxic vapour inhalation, and environmental contamination.
Municipal by-laws and safety regulations also limit how fuel may be stored at residential properties.
Authorities say panic buying could also place pressure on station supply chains, as seen during the April increase when some stations temporarily ran dry.
The ongoing volatility in oil markets, combined with rand weakness and international supply concerns, means May’s final adjustment will remain closely watched by both consumers and businesses.
Source: Central Energy Fund (CEF), Department of Mineral and Petroleum Resources, SAIA
