Motorists across South Africa will welcome a significant drop in fuel prices starting Wednesday, 7 May 2025, as the Minister of Mineral and Petroleum Resources, Gwede Mantashe, announced the latest adjustments.
Petrol prices for both 93 and 95 grades (ULP and LRP) will decrease by 22 cents per litre, bringing the cost of a litre of petrol 95 in Gauteng down from R21.62 to R21.40.
Coastal motorists will see similar relief, with 95 petrol dropping from R20.79 to R20.57 per litre. Additionally, diesel prices will decrease by up to 42 cents per litre, while illuminating paraffin will see a 31-cent reduction.
“The average Brent Crude oil price fell from 71.04 USD to 66.40 USD in the review period,” said the Department of Mineral and Petroleum Resources.
The department further attributed the price adjustments to a declining global oil demand, an oversupply from non-OPEC nations, and anticipated production increases by OPEC+ members.
These price cuts offer much-needed relief for South Africans grappling with rising living costs. Lower fuel prices will ease the burden on transportation expenses, benefiting both individual motorists and businesses reliant on fuel for operations.
The decrease in diesel costs is expected to positively impact industries such as logistics, agriculture, and manufacturing, potentially stabilizing product prices and supporting economic growth.
The fuel price reduction arrives at a crucial time, bringing optimism to both consumers and businesses alike as they navigate economic uncertainties.
While the global energy market remains unpredictable, South Africans can, at least for now, enjoy some respite at the pump.
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