Petrol price up, diesel down in May
The Department of Mineral Resources and Energy has announced fuel price adjustments for the month of May.
Both grades of petrol will increase by 37 cents per litre from Wednesday.
Diesel will decrease by 73.54 cents for (0.05% sulphur) and 47.54 cents for (0.005% sulphur) per litre.
The price of illuminating paraffin will decrease by 33 cents per litre at the wholesale level.
LP Gas will decrease by 444c per kilogram.
The department’s spokesperson Robert Maake says the price increases are due to international oil prices and the rand/US dollar exchange rate.
"The average Brent Crude oil price increased from 79.24 US Dollars (USD) to 82.20 USD during the period under review. The main contributing factor is the Chinese GDP growth data, which is driven mainly by household consumption, mainly services.
"The average international product prices of petrol increased while diesel and illuminating paraffin decreased during the period under review due to the following factors."
Maake says the petrol prices were boosted by the beginning of the driving season in the US and economic growth in China, middle distillate prices on the other hand decreased due to oversupply in the markets.
"The rand appreciated, although slightly on average, against the US dollar (from 18.30 to 18.12 Rand per USD) during the period under review when compared to the previous one.”
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