Overview
- Late-May Central Energy Fund figures showed petrol has moved into a modest over-recovery of about R0.21–R0.46 per litre while diesel has a much larger over-recovery of roughly R4.60–R5.57 per litre.
- National Treasury confirmed it will begin phasing out the temporary fuel levy from June, reintroducing R1.50 per litre to petrol and about R1.97 per litre to diesel.
- Economists estimate the levy rollback will push retail petrol up by roughly R1.20 or more per litre in June despite the petrol over-recovery.
- Diesel is set to buck that trend because its over-recovery exceeds the partial levy return, leaving room for estimated wholesale falls of about R2.60–R3.30 per litre and potential retail relief.
- The Department of Mineral and Petroleum Resources will publish official June price adjustments at month-end and policymakers, including Minister Gwede Mantashe, are discussing a proposed state-owned fuel company as a longer-term way to cut import vulnerability while the outlook remains fragile to oil and rand swings.