{"id":63733,"date":"2024-04-05T16:56:31","date_gmt":"2024-04-05T16:56:31","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may"},"modified":"2024-04-05T18:10:57","modified_gmt":"2024-04-05T18:10:57","slug":"trouble-for-petrol-prices-in-south-africa-in-may","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may","title":{"rendered":"Trouble for petrol prices in South Africa in May"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Following the latest hike to petrol prices in South Africa this week, the daily recoveries for fuel are once again off to a mixed start in the new month \u2013 with a worrying outlook for prices in May.<\/p>\n

Motorists have just been hit with a price hike this week, with the Department of Mineral Resources and Energy hiking petrol prices by around 60-65 cents per litre on Wednesday (3 April). Diesel prices were flat with a marginal increase\/decrease, depending on coastal or inland pricing.<\/p>\n

Closing up the first week in April and looking ahead to potential price changes in May, petrol prices are again showing an under-recovery in prices of around 45 cents per litre, kicking off the month on the back foot for motorists.<\/p>\n

Like early April, diesel prices are currently showing an over-recovery of close to 50 cents per litre, lining up another cut in May.<\/p>\n

However, given the early days with a full month ahead, market conditions can still change significantly, and the final price changes may be wildly different.<\/p>\n

Positive signs are already emerging for recoveries thanks to the rand, which has appreciated to its strongest level since the second week of March.<\/p>\n

According to Nedbank analysis, the local unit has been boosted by the favourable gold price and some positive news on the logistics front.<\/p>\n

The Absa PMI suggests an easing of rail and port inefficiencies, albeit from a very low base, while reports indicate that a new R3.4 billion terminal has been completed at the Durban port.<\/p>\n

The rand is trading around R18.65\/$ on Friday (5 April), up from R18.94 at the start of the week.<\/p>\n

Given that the rand\/dollar exchange rate is contributing to a small under-recovery (just 2 cents per litre), a strengthening local currency would swing that into a small over-recovery if maintained at current levels.<\/p>\n

However, the biggest contributor to under-recoveries for petrol (and an over-recovery for diesel) is the movement in international fuel prices, driven by global oil prices.<\/p>\n

This particular indicator is showing more strain for motorists, with Nedbank noting that oil prices are on the rise amid further tensions in the Middle East.<\/p>\n

More specifically, the Brent crude oil price is trading above $90 a barrel on Friday, rising by 5.6% this week.<\/p>\n

\u201cThe OPEC (oil-producing countries) ministerial meeting confirmed the production cuts agreed in June 2023, and it is expected to maintain them when it is next convened on 1 June,\u201d the bank said.<\/p>\n

According to Bloomberg analysis, global benchmark Brent pierced $91 a barrel, as geopolitical risks come into play in the market.<\/p>\n

\u201cThe focus has shifted to a dramatic repricing of geopolitical risk, after Israel increased preparations for a potential retaliation by Tehran to a strike on an Iranian diplomatic compound in Syria. That has stoked fears of a wider regional conflict.<\/p>\n

Some analysts have raised their short-term rally projections to around $100 a barrel, while longer-term (three-month future) pricing has forecast $95 a barrel.<\/p>\n

If these projections prove true, the oil price pressure on local pricing will continue beyond May and into the rest of the year.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Following the latest hike to petrol prices in South Africa this week, the daily recoveries for fuel are once again off to a mixed start in the new month \u2013 with a worrying outlook for prices in May. Motorists have just been hit with a price hike this week, with the Department […]<\/p>\n","protected":false},"author":84,"featured_media":63732,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-63733","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nTrouble for petrol prices in South Africa in May - South Africa<\/title>\n<meta name=\"description\" content=\"Following the latest hike to petrol prices in South Africa this week, the daily recoveries for fuel are once again off t ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trouble for petrol prices in South Africa in May\" \/>\n<meta property=\"og:description\" content=\"Following the latest hike to petrol prices in South Africa this week, the daily recoveries for fuel are once again off t ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-05T16:56:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-05T18:10:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/04\/sm_1712326541.72475.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Trouble for petrol prices in South Africa in May\",\"datePublished\":\"2024-04-05T16:56:31+00:00\",\"dateModified\":\"2024-04-05T18:10:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may\"},\"wordCount\":524,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/04\/sm_1712326541.72475.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may\",\"name\":\"Trouble for petrol prices in South Africa in May - South Africa\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/04\/sm_1712326541.72475.jpg\",\"datePublished\":\"2024-04-05T16:56:31+00:00\",\"dateModified\":\"2024-04-05T18:10:57+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"Following the latest hike to petrol prices in South Africa this week, the daily recoveries for fuel are once again off t ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/04\/sm_1712326541.72475.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/04\/sm_1712326541.72475.jpg\",\"width\":1200,\"height\":800,\"caption\":\"Trouble for petrol prices in South Africa in May\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/south-africa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Trouble for petrol prices in South Africa in May\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#website\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/\",\"name\":\"South Africa\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/south-africa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Trouble for petrol prices in South Africa in May - South Africa","description":"Following the latest hike to petrol prices in South Africa this week, the daily recoveries for fuel are once again off t ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may","og_locale":"en_US","og_type":"article","og_title":"Trouble for petrol prices in South Africa in May","og_description":"Following the latest hike to petrol prices in South Africa this week, the daily recoveries for fuel are once again off t ...","og_url":"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may","og_site_name":"South Africa","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2024-04-05T16:56:31+00:00","article_modified_time":"2024-04-05T18:10:57+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/04\/sm_1712326541.72475.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Trouble for petrol prices in South Africa in May","datePublished":"2024-04-05T16:56:31+00:00","dateModified":"2024-04-05T18:10:57+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may"},"wordCount":524,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/04\/sm_1712326541.72475.jpg","keywords":["Africa Press","Africa Press-South-Africa","South-Africa"],"articleSection":["all news","economy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may","url":"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may","name":"Trouble for petrol prices in South Africa in May - South Africa","isPartOf":{"@id":"https:\/\/www.africa-press.net\/south-africa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/04\/sm_1712326541.72475.jpg","datePublished":"2024-04-05T16:56:31+00:00","dateModified":"2024-04-05T18:10:57+00:00","author":{"@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"Following the latest hike to petrol prices in South Africa this week, the daily recoveries for fuel are once again off t ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may#primaryimage","url":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/04\/sm_1712326541.72475.jpg","contentUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/04\/sm_1712326541.72475.jpg","width":1200,"height":800,"caption":"Trouble for petrol prices in South Africa in May"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/trouble-for-petrol-prices-in-south-africa-in-may#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/south-africa\/"},{"@type":"ListItem","position":2,"name":"Trouble for petrol prices in South Africa in May"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/south-africa\/#website","url":"https:\/\/www.africa-press.net\/south-africa\/","name":"South Africa","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/south-africa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts\/63733","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/comments?post=63733"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts\/63733\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/media\/63732"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/media?parent=63733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/categories?post=63733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/tags?post=63733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}