South African motorists heading to the pumps on Wednesday will be welcomed by a surprise – a significant drop in fuel prices, offering some respite in tough economic times. The Department of Mineral and Petroleum Resources confirmed the long-awaited decrease, which will come into effect at midnight on April 2, slashing the cost of petrol and diesel across the country.
After months of financial strain, motorists can finally breathe a little easier. The price of 95 Octane petrol will drop by 72 cents per litre, while 93 Octane will drop by 58 cents.
Diesel users won’t be left behind, with reductions of 84 to 86 cents per litre, depending on the grade. The cuts come after global oil markets saw a steep decline in March, driven by increased supply and ongoing geopolitical tensions linked to former US President Donald Trump’s trade policies.
Behind the scenes, two key factors played a role in the price relief: a dip in global oil prices and a slightly stronger rand. The average price of Brent Crude oil tumbled from $74.89 to $71.04 per barrel, thanks to higher production from non-OPEC nations and a modest increase in OPEC+ supply.
Meanwhile, the rand held its ground, firming from R18.50 to R18.30 against the US dollar, further cushioning the blow.
But it wasn’t all smooth sailing. While the international market worked in South Africa’s favour, Finance Minister Enoch Godongwana’s March budget introduced a small hike in the carbon fuel levy, adding 3 cents per litre to both petrol and diesel.
Fortunately, the general fuel levy and Road Accident Fund (RAF) levy remained unchanged, preventing an even heavier burden on consumers.
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Beyond the price adjustments, motorists should take note of a few other tweaks:
The price gap between 93 and 95 Octane petrol will now vary by region, following a quarterly review.
Transportation costs for fuel have also been adjusted, with increases ranging from 4.2 to 7.5 cents per litre, depending on the zone.
While the April price cuts bring relief, energy analysts caution that the situation remains volatile. Geopolitical instability, fluctuating oil supply, and rand vulnerability could easily reverse the gains in the coming months. For now, though, South African drivers can enjoy a slightly lighter load on their wallets — at least until the next fuel price announcement.
As queues formed at petrol stations in the early hours of Wednesday morning, one thing was clear: in a country where every cent counts, this drop was more than just numbers on a board — it was a small but meaningful win for millions.
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