'STOP the petrol price increases!' - Industry says South Africans hanging on by a thread
Experts say South Africans can't keep up with rising fuel costs.
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With a record-high price for diesel coming into effect on Wednesday, Debt Rescue CEO, Neil Roets says households have already run out of room to adjust their budgets
"Asking consumers to once again 'brace' for impact is simply not realistic. Most households have already run out of room to adjust their budgets. They are hanging on by a very thin thread," says Roets.
The wholesale price of 50ppm diesel will rise to about R31.54 at the coast and R32.30 in Gauteng, with the retail margin adding a further R2.50 to R3, depending on the outlet.
Petrol will cost R25.80 for a litre of 95 Unleaded at the coast and R26.33 inland, where 93 Unleaded will cost in the region of R26.52.
This will be a new record-high price for diesel, while the petrol price remains slightly below the peak price reached in July 2022 of R26.09 per litre at the coast.
National Treasury and the Department of Mineral and Petroleum Resources announced last week that the R3 fuel tax relief would remain in place for petrol during May, while diesel would see a further 93c reprieve for the month.
However, from July onwards, motorists will pay the full General Fuel Levy amounts of R4.10 on petrol and R3.93 for diesel.
June could possibly lead to even higher fuel price shocks, should there not be a resolution to the war in the Middle East.
The Motor Industry Staff Association (MISA) described the current measures as inadequate in the face of mounting pressures linked to the Middle East conflict, which has driven global oil prices sharply higher.
“This is not just about numbers at the pump – it is about survival. Families are being crushed between fuel, electricity, and food costs. Government’s minimal relief is a band aid on a deep wound,” said Martlé Keyter, MISA’s CEO for operations.