South Africa Hikes Fuel Prices

(MENAFN) South Africa will impose a new round of fuel price increases from Tuesday as surging global oil costs driven by U.S.-Iran tensions and critical supply route disruptions pile fresh pressure on households across the country.

The Department of Mineral and Petroleum Resources confirmed that both grades of petrol will rise by 3.27 rand — approximately 0.2 U.S. dollars — per liter, while diesel prices will climb by a steeper 6.19 rand per liter effective May 6.

The increases reflect a sharp jump in global crude benchmarks during the review period, with average Brent Crude prices surging from 93.67 dollars to 101 dollars per barrel. The department attributed the spike largely to escalating tensions between the United States and Iran, compounded by mounting disruptions to vital supply routes including the Strait of Hormuz.

In a bid to cushion consumers from the worst of the price shock, the department announced last week that temporary fuel relief measures would be extended from May 6 through June 2. The relief package includes a reduction of 3 rand per liter on petrol and 3.93 rand on diesel — a lifeline introduced on April 1 that had originally been set to expire on May 5.

The relief, however, will not last in its current form. From June, the subsidy will be halved as authorities begin phasing it out, before the general fuel levy reverts entirely to its standard rates of 4.1 rand per liter for petrol and 3.93 rand for diesel from July 1.

The phased withdrawal of relief measures signals that South African consumers face a prolonged period of elevated fuel costs, even as the government attempts to manage the political and economic fallout of rising energy prices amid a volatile global landscape.

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