Petrol Price Increase Looms for May 2023 

Petrol Price Increase Looms for May 2023 

Unaudited mid-month data released by the Central Energy Fund (CEF) points to a significant petrol price increase for May 2023. The good news is that the price of diesel is expected to decrease! 

South African motorists must brace for another petrol price increase on the horizon for May 2023. 

A generally weak Rand-Dollar exchange rate (the Rand is currently trading at R18.13 to the US Dollar) during the period and increasing international oil prices are the main contributing factors for the expected petrol price hike to come in May 2023. 

It must, however, be noted that the unaudited data released by the CEF is merely indicative and with 10 days of April remaining, there’s sure to be further movement before month-end. 

Nonetheless, the current data suggests that the price of 95 ULP could see an increase of 74 c/l while the price of 93 ULP/LRP could see an increase of around 81 c/l. 

Diesel vehicle owners are likely to pay less at the pumps in May 2023 with the data reflecting a potential decrease of 41 c/l for 0.05% diesel and an 18 c/l decrease for 0.005% diesel. 

We will communicate the final fuel price adjustments as and when they are announced at the end of April 2023. 

Fuel Price Forecast for May 2023 in South Africa

Fuel Type  April 23Inland April 23 Coast May 23 (projected) Inland May 23 (Projected) Coast
Petrol Unleaded 93 R22.64 R21.92 R23.45 R22.73
Petrol Unleaded 95 R22.97 R22.25 R23.71 R22.99
Diesel 0.05% (wholesale) R20.88 R20.16 R20.47 R19.75
Diesel 0.005% (wholesale) R20.97 R20.26 R20.79 R20.08

Fuel price data courtesy of the Automobile Association of South Africa (AA)

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