From Wednesday, 1 January 2025, South African motorists will experience changes in fuel prices.
Fuel prices in South Africa: Official adjustments from Wednesday, 1 January 2025
PLEASE NOTE: The petrol price adjustments listed below are directly quoted from the Department of Energy’s monthly press release. Despite our best efforts to ensure accurate reporting, it is still the sole responsibility of the reader to double-check petrol prices. Swisher Post, its parent company, partners and affiliates shall not be held liable for any consequence that arises from the journalistic duties performed in sharing this content.
The adjustments, as announced by the Department of Mineral Resources and Energy, reflect shifts in global oil prices and exchange rates.
- Petrol 95 will increase by 12 cents per litre.
- Diesel 0.05% will rise by 7.5 cents per litre.
- Illuminating paraffin will decrease by 9.5 cents per litre, benefiting households that rely on it.
Inland
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| TYPE | PRICE (p/l) | CHANGE |
| Petrol 95 | R21.59 | +R0.12 |
| Petrol 93 | R21.34 | +R0.19 |
| Diesel 0.05%* | R20.65 | +R0.08 |
| Diesel 0.005%* | R19.44 | +R0.11 |
Coastal
| TYPE | PRICE (p/l) | CHANGE |
| Petrol 95 | R20.80 | +R0.12 |
| Petrol 93 | R20.55 | +R0.19 |
| Diesel 0.05%* | R18.50 | +R0.08 |
| Diesel 0.005%* | R18.68 | +R0.11 |
Factors impacting fuel prices in January 2025
The price adjustments for January were influenced by a mix of international and domestic factors.
- Global oil price trends: International prices for petrol increased during the review period, while diesel and illuminating paraffin prices showed some declines. However, the overall rise in import costs contributed to the price changes.
- Exchange rate impact: The rand weakened against the US dollar, averaging R18.11, compared to R17.93 in the previous period. This depreciation increased import costs, adding 10.58 cents per litre for petrol and 11.11 cents per litre for diesel to the adjustments.
- Local distribution adjustments: With repairs completed at the Port of Port Elizabeth, the pricing structures for magisterial district zones (MDZ) returned to their original configurations.
- No change in slate levy: The slate levy, which helps balance fuel price fluctuations, remains at 0 cents per litre, as there was no need for adjustments during this period.
What goes into the final retail price of fuel in South Africa?
Determining the final retail price of petrol in South Africa relies heavily on the rand’s performance in currency markets and oil price movements.
Using this information, the CEF can formulate basic fuel price (BFP) estimates which, in essence, offer South African importers a snapshot into the cost of buying petrol from an international refinery, transporting the product and ensuring it against possible losses at sea and on land.
However, before the retail price of petrol is finalised at petrol stations, several additional costs are included in the BFP:
Government levies
- IP tracer levy (reimbursement to the oil industry for buying IP tracer dye and injecting it into IP to curtail the mixing of IP and diesel)
- General Fuel levy (tax levied by the government)
- Slate levy (to finance the cumulative under-recovery of the industry)
- RAF levy (to compensate for people involved in road crashes and accidents)
- Petroleum products levy (reimbursement to the pipeline users for the applicable NERSA tariff on transporting fuel through the pipeline)
Additional costs
- Wholesale margin (markup to the price of a product to account for wholesaling costs)
- Service cost recoveries
- Storage, handling and delivery costs
- Distribution costs
- Dealers margin (commission to the fuel pump dealers for retail operation)
- Zone differential (applicable to inland regions)
- Customs and excise duty
Petrol price adjustments are generally made on the first Wednesday of every month by the Department of Energy.
