The price of both grades of petrol will decrease by 12c/ℓ on May 4, while 0.05% sulphur diesel will increase by 98 c/ℓ and 0.005% sulphur diesel will increase by 92c/ℓ.
Illuminating paraffin will increase by 79.6 c/ℓ, while liquid petroleum gas will rise by 69c/kg.
A decrease in Brent crude oil prices, from $109.37/bl to $104.78/bl has contributed to the lower petrol price.
This is in addition to decreased Chinese Brent crude demand on the back of Covid-19 restrictions in the country and the release of US strategic oil reserves to absorb oil price increases.
However, the ongoing conflict in Ukraine is keeping the price of crude oil high.
Driving up the prices of diesel and paraffin are shortages of diesel as a result of lower diesel exports from Russia, which is a major producer of distillate fuel; general low global diesel inventories; and elevated distillate demand.
However, during April, the rand appreciated against the dollar, resulting in lower contributions to the basic fuel prices of petrol, diesel and illuminating paraffin by 10.18c/ℓ, 11.96c/ℓ and 11.57c/ℓ, respectively.
In addition, the Department of Mineral Resources and Energy’s short-term relief measure of reducing general fuel levies by R1.50/ℓ will continue in May.