Overview
- South Africa’s energy department corrected a decimal mistake on Tuesday, revising May’s wholesale diesel increase to R5.27 per litre from R6.19 after it misapplied a 93c diesel levy reprieve.
- Following Wednesday’s adjustment, petrol rose by R3.27 per litre and diesel by R5.27, with posted tables showing inland 95 unleaded near R26.63 and wholesale diesel around R31.17, while paraffin and LPG also increased.
- Temporary levy relief stays in place for May but will be scaled back in June and withdrawn in July, with officials flagging roughly R1.50 more for petrol in June and again in July and close to R1.97 then R1.96 more for diesel.
- COSATU urged government to extend the relief as workers face heavy transport costs, taxi body Santaco reported fare hikes and fears of losing riders, and Durban stations saw long queues and some sale limits before the change.
- Officials and analysts tied the surge to higher global oil prices and a weaker rand, with a R1.22 slate levy and a R14.17bn slate deficit adding pressure, and Minister Gwede Mantashe citing Middle East tensions as a key driver of volatility.