Diesel price up, petrol slightly down in May
The Department of Mineral Resources and Energy has announced a slight drop in the price of petrol for May.
This while the owners of diesel vehicles can expect to pay quite a bit more.
The petrol price will decrease by 12c per litre, while diesel will increase by 98c per litre.
The department says Covid-19 restrictions in China have led to the drop in the demand for brent crude oil – making it possible to drop the price of petrol.
“Furthermore, the US announced the release of crude oil strategic stocks to curb crude oil price increases. The impact of these two factors was not that significant as the average price of crude oil only decreased slightly during the period under review and is still high.”
This while the continued war between Russia and Ukraine has resulted in a shortage of diesel supply globally.
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