\n The increase follows a jump in the benchmark Brent crude oil to $101 (R1,697) per barrel, up from $93.67 (R1,575), driven by supply disruptions linked to tensions between the United States and Iran and constraints along the Strait of Hormuz, a critical global oil route.
\n <\/p>\n
\n Petrol prices will rise by $0.19 (R3.27) per litre, while diesel will jump more sharply by $0.37 (R6.19) per litre. Illuminating paraffin will increase by $0.25 (R4.22) per litre at the wholesale level, with retail prices climbing further.
\n <\/p>\n
\n Diesel and paraffin recorded steeper increases due to tighter global supply and stronger demand, particularly as exports from the Persian Gulf weakened.
\n <\/p>\n
\n International market pressures added about $0.12 (R2.04) per litre to petrol and $0.30 (R4.96) per litre to diesel before final adjustments.
\n <\/p>\n
\n The rand\u2019s relative stability offered little relief, contributing less than $0.01 per litre to the overall increase.
\n <\/p>\n
\n To soften the impact, the government approved temporary tax cuts of $0.18 (R3.00) per litre on petrol and $0.23 (R3.93) per litre on diesel, effective from May 6 to June 2.
\n <\/p>\n
\n \u201cDue to the ongoing US-Iran conflict, which continues to affect fuel prices globally, the Minister of Finance\u2026 announced a further temporary reduction in the general fuel levy,\u201d the ministry said.
\n <\/p>\n
\n However, part of the relief will be offset by a slate levy of $0.07 (R1.23) per litre, introduced to recover an under-recovery of $842 million (R14.17 billion) in the fuel pricing system.
\n <\/p>\n
\n Other fuels were also affected. LPG prices will rise by about $0.30 (R5.07) per kilogram in Gauteng and $0.34 (R5.78) in the Western Cape. The refinery gate price for LPG imports through Saldanha Bay was set at $1,093 (R18,375.72) per metric ton.
\n <\/p>\n
\n Across Africa, the shift reflects a broader reality. Countries that have removed fuel subsidies, including Nigeria, are increasingly exposed to global oil volatility, with direct implications for inflation, transport costs and household spending.
\n <\/p>\n
\n With tensions in the Middle East persisting, analysts expect fuel prices to remain elevated in the near term.
\n <\/p>\n","protected":false},"excerpt":{"rendered":"
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