Fuel prices to hit new highs in May

Fuel prices in May hit new highs for the second month in a row, driven by high international oil prices due to the Iran war.

On Wednesday the retail price of both petrol grades will rise by R3.27 a litre, while the wholesale price of diesel will go up by R6.19/l. Illuminating paraffin goes up by R4.22/l.

The department of mineral and petroleum resources attributed the increases to international product prices for petrol, diesel and illuminating paraffin increasing during the period under review, and the rand slightly decreasing against the dollar. The price of Brent Crude was more than $100 on May 4.

The average rand/US dollar exchange rate for the period March 27 to April 29 was 16.6467 compared to 16.6429 during the previous period.

The increases would have been even higher had the minister of finance not approved a R3 per litre reduction in the general fuel levy for petrol to be extended until June 2. The temporary relief for diesel is increased by 93c to R3.93 per litre.

From Wednesday, motorists in Gauteng will pay R26.63 for a litre of 95 unleaded petrol and drivers at the coast will pay R25.76.

April’s fuel price increases saw motorists buying 35% less fuel than March, according to data from Discovery Insure.

Consumers are tightening their belts by driving less, combining trips and being more deliberate about when they use their cars, said Robert Attwell, CEO of Discovery Insure.

Analysis based on telematics and fuel reward card swipes from more than 200,000 clients showed how motorists responded to the fuel price increase on April 1, which saw petrol climb by R3.06 per litre and diesel by as much as R7.51.

The analysis also showed fuel transactions dropped by 28% over the same period.

At the same time, driving behaviour also shifted. Trips taken were down 10%, and the total distance travelled dropped by 9%. Even when removing the Easter weekend (April 3 to 6) from the data, trips and distance travelled were down by 8%.

FUEL PRICES MAY 2026

INLAND

93 Petrol: R26.52

95 Petrol: R26.63

Diesel 0.05%: R32.09

Diesel 0.005%: R32.30

COAST

93 Petrol: R25.73

95 Petrol: R25.76

Diesel 0.05%: R31.22

Diesel 0.005%: R31.54

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