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Fuel prices flatline in March with drop in petrol and diesel prices bringing slight relief to motorists at the pumps.
The official fuel price adjustments that will take effect on Wednesday, 5 March. Picture: iStock
The official fuel price adjustment that will take effect on Wednesday, 5 March, has been announced by the Department of Mineral and Petroleum Resources.
March’s slight yet welcome relief in fuel prices signals the end of four months of back-to-back fuel price increases. All types of petrol are set to decrease by 7c a litre, and diesel prices are between 18c and 24c a litre.
Official March fuel price: Changes in petrol, diesel and paraffin
The March fuel prices in a nutshell as per the Department of Mineral Resources and Petroleum:
- Both grades of petrol 93 and 95 (ULP and LRP): 7c per litre decrease
- Diesel 0.05% sulphur: 17.5c per litre decrease in wholesale price
- Diesel 0.005% sulphur: 23.5c per litre decrease in wholesale price
- Illuminating paraffin (Wholesale): 6c per litre decrease in wholesale price
- Illuminating paraffin (SMNRP) – 8c per litre decrease in the Single Maximum National Retail price (SMNRP)
- Maximum retail price for LPGAS: 2c per kilogram decrease in the maximum retail price
Stable rand, global oil prices drive drop in fuel prices
The global price of oil and the rand/dollar exchange stabilising turned the tables on the dismal fuel recoveries, which marked the start of February.
Compared to the previous month, the rand lifted its head and appreciated against the US dollar during the period under review.
The average rand/US dollar exchange rate between 31 January and 27 February 2025 stood at R18.50 against the American greenback, down from R18.73 per dollar in the previous period.
This led to a lower contribution to the Basic Fuel Prices of petrol, diesel, and illuminating paraffin by 13.54 c/l, 14.38 c/l, and 14.15 c/l, respectively.
Slate levy
In line with the provisions of the Self-Adjusting Slate Levy Mechanism, the Slate Levy on petrol and diesel will remain at 0.00 c/l with effect from 5 March.
February vs March at the pumps
Here’s a breakdown of how the March drop in petrol and diesel prices (inland and coastal) will reflect at the pumps.
Note: Diesel prices reflect wholesale, with pump prices set to differ slightly.
NOW READ: Fuel price explainer: How is the petrol price determined? [VIDEO]
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