Fuel price drop in May 2025: Here's how much you'll save at pump
Here is the fuel price drop for May 2025, as South African motorists are finally getting some relief at the pump.
The Department of Petroleum and Mineral Resources (DMRE) has confirmed significant fuel price cuts effective Wednesday, 7 May 2025, following a sharp drop in global oil prices and despite a weaker rand.
From 7 May, both 93 and 95 unleaded petrol prices will drop by 22 cents per litre. Diesel users will enjoy even bigger savings, with price reductions ranging between 41 and 42 cents per litre.
These changes come after a turbulent April that saw oil markets tumble due to international tensions, while local currency fluctuations threatened to offset those gains. Still, the fall in global oil prices overpowered the impact of a weakened rand and tax hikes.
International oil markets have been on edge. The average Brent crude oil price plummeted from $71.04 to $66.40 during April.
'This was due to the tariff and trade war initiated by the US, which has raised global economic recession concerns and a possible lower demand for crude oil,' the DMRE explained in a statement.
Analysts point to growing fears of a worldwide economic slowdown and a surprise decision by OPEC+ to ramp up production, which further pushed down prices. These developments have driven down the cost of refined fuels like petrol, diesel, and paraffin in the international market.
While global oil prices dropped, the rand weakened against the US dollar, nearly dulling the benefit. The average exchange rate from 28 March to 1 May 2025 hit R18.8382, compared to R18.2957 in the previous period.
This depreciation led to an increased contribution to the Basic Fuel Price:
Petrol: +29.13 cents per litre
Diesel: +30.34 cents per litre
Illuminating paraffin: +30.24 cents per litre
Still, the falling oil prices helped neutralize the rand's negative impact.
In his March 2025 Budget Speech, the Minister of Finance confirmed that the Fuel Levy would remain unchanged at 396.00 c/l for petrol and 384.00 c/l for diesel. The Road Accident Fund (RAF) Levy also stays flat at 218.00 c/l for both.
However, drivers are now paying more for the carbon fuel levy, which rose by 3.00 c/l, bringing it to:
14c/l for petrol
17c/l for diesel
As a result, the total fuel levies increased to 399.00 c/l for petrol and 387.00 c/l for diesel, effective 2 April 2025.
The slate levy, a mechanism to balance under- or over-recoveries in fuel pricing, remains at zero cents per litre for both petrol and diesel.
Fuel prices in South Africa are finally falling thanks to a global oil price drop. While currency challenges and tax tweaks soften the impact, motorists will still see noticeable savings in May 2025. Keep your tank full and your wallet happy.
Stay tuned with The South African as we present the fuel price drop for May 2025.
Will this decrease help your pocket?
Let us know by leaving a comment below or send a WhatsApp to 060 011 021 1.
Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X, and Bluesky for the latest news.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
eNCA
3 hours ago
- eNCA
Trump says Musk has 'lost his mind' as feud fallout mounts
WASHINGTON - US President Donald Trump said that Elon Musk had "lost his mind" but insisted he wanted to move on from the fiery split with his billionaire former ally. The blistering public break-up between the world's richest person and the world's most powerful is fraught with political and economic risks all around. Trump had scrapped the idea of a call with Musk and was even thinking of ditching the red Tesla he bought at the height of their bromance, White House officials told AFP. "Honestly, I've been so busy working on China, working on Russia, working on Iran... I'm not thinking about Elon Musk, I just wish him well," Trump told reporters aboard Air Force One en route to his New Jersey golf club late Friday. Earlier, Trump told US broadcasters that he now wanted to focus instead on passing his "big, beautiful" mega-bill before Congress -- Musk's harsh criticism of which had sparked their break-up. But the 78-year-old Republican could not stop himself from taking aim at his South African-born friend-turned-enemy. "You mean the man who has lost his mind?" Trump said in a call with ABC when asked about Musk, adding that he was "not particularly" interested in talking to the tycoon. Trump later told Fox News that Musk had "lost it." Just a week ago Trump gave Musk a glowing send-off as he left his cost-cutting role at the so-called Department of Government Efficiency (DOGE) after four months working there. While there had been reports of tensions, the sheer speed at which their relationship imploded stunned Washington. After Musk called Trump's spending bill an "abomination" on Tuesday, Trump hit back in an Oval Office diatribe on Thursday in which he said he was "very disappointed" by the entrepreneur. Trump's spending bill faces a difficult path through Congress as it will raise the US deficit, while critics say it will cut health care for millions of the poorest Americans. The row then went nuclear, with Musk slinging insults at Trump and accusing him without evidence of being in government files on disgraced financier and sex offender Jeffrey Epstein. Trump hit back with the power of the US government behind him, saying he could cancel the Space X boss's multi-billion-dollar rocket and satellite contracts. Trump struck a milder tone late Friday when asked how seriously he is considering cutting Musk's contracts. "It's a lot of money, it's a lot of subsidy, so we'll take a look -- only if it's fair. Only if it's to be fair for him and the country," he said. Musk apparently also tried to de-escalate social media hostilities. The right-wing tech baron rowed back on a threat to scrap his company's Dragon spacecraft -- vital for ferrying NASA astronauts to and from the International Space Station. And on Friday the usually garrulous poster kept a low social media profile on his X social network. But the White House denied reports that they would talk.
IOL News
12 hours ago
- IOL News
Trump dismisses Musk's call after public fallout, considers selling Tesla
US President Donald Trump and Elon Musk (R) speak in the Oval Office before departing the White House in Washington, DC, on the way to Trump's residence at Mar-a-Lago in Palm Beach, Florida US President Donald Trump has no plans to speak to billionaire Elon Musk and may even ditch his red Tesla car, the White House said Friday after a stunning public divorce fraught with risk for both men. Trump's camp insisted that he wanted to move on from the row with the South African-born Musk, with officials telling AFP that the tech tycoon had requested a call but that the president was not interested. The Republican instead intended to focus on getting the US Congress to pass his "big, beautiful" spending bill -- Musk's harsh criticisms of which had triggered the astonishing meltdown on Thursday. Fallout from the blow-up between the world's richest person and its most powerful could be significant, as Trump risks political damage and Musk faces the loss of huge US government contracts. Trump phoned reporters at several US broadcast networks to insist that he was looking past the row. He called Musk "the man who has lost his mind" in a call to ABC and told CBS he was "totally" focused on the presidency. The White House meanwhile, squashed earlier reports that they would talk. "The president does not intend to speak to Musk today," a senior White House official told AFP on condition of anonymity. A second official said it was "true" that Musk had requested a call.
IOL News
14 hours ago
- IOL News
TFG's robust earnings reflect strategic growth and online success
TFG's results for its 2025 financial year underscored a focus on market share growth, margin improvement and cost management, said its CEO, Anthony Thunström Image: Supplied JSE-listed international fashion, homeware and lifestyle retailer TFG's robust financial results for the year to end-March 2025 were fueled by a strong second half from TFG Africa, store expansion, and the acquisition of White Stuff in the UK. Headline earnings a share (HEPS) were up 4.6% to 1015.6 cents. The final dividend was raised by 15% to 230 cents a share. 'The result underscored a 'relentless' focus on market share growth, margin improvement, and cost management,' CEO Anthony Thunström said in a statement. The group has a portfolio of 39 leading retail brands, with over 4 900 outlets in 23 countries on five continents. 'We are targeting the opening of over 100 new stores in the coming year while optimising our existing footprint. With the Riverfields distribution centre now close to fully operational—alongside our other growth and efficiency strategies—we expect continued improvement in operating margins and capital returns in 2026 and beyond,' said Thunström. The Africa business led the charge in the past year with "exceptional" results in the second half. Online sales surged, driven by the success of the Bash platform, which had reached profitability two years ahead of schedule: 'a very likely unique achievement in the South African retail space,' said Thunström. Gross margins expanded by 150 basis points. These gains, along with disciplined cost management across divisions, translated into solid profit growth. Online sales maintained momentum and accounted for 12% of group sales, up from 9.9% the previous year. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading TFG Africa's sales were up 7% in the second half as the base normalised from the prior year's first half's clearance activity. All brands and categories showed improvement, generating full-year growth of 3.7%. Thunström said there was strong growth ahead of the market from womenswear, beauty, and jewellery, as well as recently acquired businesses, Jet and Tapestry, where the retail platform provided credit, online, and distribution capabilities. Online sales grew 43.5% and contributed 5.8% (2024: 4.2%) to total TFG Africa sales. TFG UK increased sales 16.4% in pounds following the acquisition of White Stuff from October 25, 2024. White Stuff saw 20.3% year-on-year growth for the five months post-acquisition. The addition of White Stuff to the portfolio saw store sales up 11.8% and online sales grow 22.5%. Online sales now contribute 44.8% (42.7%) of total TFG UK sales. TFG Australia faced difficult trading conditions, with sustained high inflation and interest rates impacting the consumer. Sales were 2.6% lower in Australian dollars, with a mixed performance throughout the second half in a 'highly promotional market,' Thunström said. Online sales grew by 7.3% and now contribute 8.1% (7.3%) to total TFG Australia sales.
