{"id":859861,"date":"2026-05-08T11:32:28","date_gmt":"2026-05-08T09:32:28","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=859861"},"modified":"2026-05-08T11:32:44","modified_gmt":"2026-05-08T09:32:44","slug":"more-bad-news-for-petrol-prices-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/energy\/859861\/more-bad-news-for-petrol-prices-in-south-africa\/","title":{"rendered":"More bad news about petrol prices in South Africa"},"content":{"rendered":"\n
Recoveries for petrol prices at the start of May 2026 are starting motorists on the back foot for the month, with another significant hike building for June.<\/p>\n\n\n\n
The data for diesel drivers is much better, starting the month in positive territory\u2014but this will be offset by the reintroduction of fuel taxes next month.<\/p>\n\n\n\n
According to the latest data from the Central Energy Fund (CEF), petrol prices are showing an under-recovery of 82-84 cents per litre.<\/p>\n\n\n\n
The positive slant on the numbers is that the under-recovery is narrowing, having been around 135 cents per litre just a day ago.<\/p>\n\n\n\n
After months of pushing new record highs and adding R13 per litre to prices, diesel recoveries have swung into a large over-recovery of between R1.66 and R2.48 per litre.<\/p>\n\n\n\n
These are the projected levels at the end of the first week of May:<\/p>\n\n\n\n
\n
Petrol 93:<\/strong> increase<\/mark> of 84 cents per litre<\/li>\n\n\n\n
Petrol 95:<\/strong> increase<\/mark> of 88 cents per litre<\/li>\n\n\n\n
Diesel 0.05% (wholesale): <\/strong>decrease<\/mark> of R2.48 per litre<\/li>\n\n\n\n
Diesel 0.005% (wholesale):<\/strong> decrease<\/mark> of R1.66 per litre<\/li>\n\n\n\n
Illuminating paraffin: <\/strong>decrease<\/mark> of R2.29 per litre<\/li>\n<\/ul>\n\n\n\n
The CEF does not provide daily snapshot data for LP Gas, so it is not currently possible to provide an expected price for the coming month.<\/p>\n\n\n\n
The recoveries reflect a stabilisation of global oil prices, albeit at higher rates.<\/p>\n\n\n\n
After shooting above $110 a barrel at the end of April, prices have recovered to below $100 a barrel again on assurances of a ceasefire in the Middle East.<\/p>\n\n\n\n
US President Donald Trump said that a ceasefire with Iran is still held despite renewed clashes between US and Iranian forces, sustaining speculation that a deal may be struck.<\/p>\n\n\n\n
The oil market\u2019s focus remains on the Strait of Hormuz, which has been effectively closed since the war began at the end of February.<\/p>\n\n\n\n
The head of the International Energy Agency warned the world was losing 14 million barrels of oil a day because of the war, and ramping up production after the conflict would be gradual.<\/p>\n\n\n\n
On the rand side, the unit has strengthened, but remained range-bound as investors remained optimistic about a potential US-Iran peace deal.<\/p>\n\n\n\n
Overall, oil prices are making a positive contribution to diesel recoveries, aided by a small boost from the rand\/dollar exchange.<\/p>\n\n\n\n
For petrol, the oil impact is still negative, with the rand\/dollar exchange only pulling marginally in the opposite direction.<\/p>\n\n\n\n
![\"\"](\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2026\/05\/Petrol-95-projected-fuel-price-chart-2026-05-07.png\")
<\/a><\/figure>\n\n\n\n![\"\"](\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2026\/05\/diesel-0005-projected-fuel-price-chart-2026-05-07.png\")
<\/a><\/figure>\n\n\n\n