South Africa Fuel price relief: petrol and diesel costs to decrease in May
Motorists will breathe a sigh of relief from Wednesday as the cost of all grades of petrol is set to come down.
This is as the Minister of Mineral and Petroleum Resources, Gwede Mantashe, announced the adjustment of fuel prices based on current local and international factors with effect from Wednesday, 7 May 2025.
The price of petrol 93 (ULP and LRP) will decrease by 22c a litre while the price of 95 (ULP and LRP) will also come down by 22c a litre.
Currently, a litre of petrol 95 costs R21.62 in Gauteng. As of Wednesday, this will come down to R21.40 a litre.
At the coast, a litre of 95 petrol, which costs R20.79 a litre, will cost R20. 57 as of Wednesday.
Meanwhile, the price of Diesel (0.05% sulphur) will decrease by 42c a litre and that of Diesel (0.005% sulphur) will come down by 41c a litre.
The price of Illuminating Paraffin (wholesale) will decrease by 31c per litre.
The Single Maximum National Retail Price (SMNRP) for illuminating paraffin will see a 41c decrease and the maximum LPGas Retail Price will increase by 46c per kilogram.
'The average Brent Crude oil price decreased from $71.04 to $66.40 during the period under review,' said the Department of Mineral and Petroleum Resources.
It added that the tariff and trade war initiated by the United States which has raised global economic recession concerns, and a possible lower demand for crude oil, and oversupply of oil from non-Opec countries and the anticipated increase in oil production by Opec+ members were the main contributing factors for the fuel price adjustments.
'The average international petroleum product prices of petrol and diesel followed the decreasing trend of crude oil prices while the price of LPG increased due to higher freight (shipping costs) during the period under review,' said the department.
All rights reserved. © 2022. Bizcommunity.com Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Post
7 hours ago
- Arabian Post
China's Iran Oil Bet Hits Strategic Snag
China is confronting significant disruption to its Iranian crude oil supply, risking both its energy security and geopolitical ambitions in the Middle East. With over 90 per cent of Iran's oil exports directed to China via Kpler, the contraction of that flow places Beijing's $400 billion 2021 cooperation deal in jeopardy. Major Chinese independent refiners, the so‑called 'teapots' in Shandong province, are enduring mounting losses as deepening discounts on Iranian oil clash with soaring global prices. Discounts have widened to between $3.30 and $3.50 a barrel against ICE Brent for July cargoes – up from approximately $2.50 in June – contributing to refinery utilisation dropping to around 51 per cent, down from 64 per cent a year ago. Despite Israel's airstrikes targeting Iranian energy infrastructure and concerns over potential U.S. sanctions, Iran has maintained its exports through a shadow tanker fleet and strategic logistics adjustments. Kpler reports that crude loadings have reached a five‑week high of about 2.2 million barrels per day, assisted by the use of a less exposed jetty on Kharg Island and pre‑positioning of floating stocks nearer to China – including approximately 8 million barrels stationed offshore China. ADVERTISEMENT In 2024, Iranian shipments to China peaked at 1.6 million barrels per day, but that volume had already declined to roughly 740,000 bpd by April 2025, as broader Middle East instability and tightening sanctions exerted pressure. Rival supplies from OPEC+ producers like Saudi Arabia and the UAE may partially compensate, yet analysts emphasise that prolonged disruption would still erode Beijing's strategic leverage and diplomatic role in the region. For China, this dependence on Iranian crude is part of a broader ambition to deepen its influence across the Middle East as a counterweight to the West. The initial rationale behind the 25‑year deal encompassed energy security, infrastructure projects, trade expansion, and regional diplomacy. But the conflict's escalation threatens those objectives, undermining China's established pipeline for cheap oil and complicating its efforts to mediate regional tensions. Economists note the urgency for Beijing to accelerate its shift toward renewable energy and domestic self-reliance. China had already reached a milestone with renewables comprising 56 per cent of its electricity capacity in 2024. The current moment has intensified calls to reduce external vulnerabilities and accelerate electrification. At present, the Chinese government has refrained from military engagement, calling for de-escalation and abstaining from direct intervention in support of Iran. Instead, it is pursuing regional diplomacy while guarding its considerable investments. A Chinese foreign ministry spokesperson emphasised the need to 'prevent the region from spiralling into greater turmoil', particularly to secure stable energy imports. However, should the conflict deepen, or if key Iranian oil infrastructure suffers irreparable damage, China's reliance on opaque supply routes and shadow trading may no longer suffice. Its medium‑term strategy of presenting itself as a credible peace broker in the Middle East faces growing strain amid diverging interests between Iran and Gulf states. China appears poised to rely more heavily on Gulf crude, yet that reliance comes with its own geopolitical calculations. Riyadh and Abu Dhabi together hold significant spare capacity – over 4 million barrels per day – which may cushion global shocks but do little to salvage China's ambition to sustain influence via energy partnerships. The unfolding developments in the Israel–Iran arena have exposed strategic fissures in a partnership that once appeared unshakeable. Even as Iran adapts tactically to maintain its export pipeline to China, Beijing must confront the reality that maintaining influence in the region demands resilience beyond discounted barrels and shadow fleets.
Arabian Post
9 hours ago
- Arabian Post
Gulf Growth Gains Amid Israel–Iran Strains
Gulf economies—led by the UAE and Saudi Arabia—are forecast to sustain stronger growth, underpinned by higher oil output and robust non-oil activity, even as tensions between Israel and Iran add volatility to the region's economic outlook. Capital Economics estimates the UAE economy will expand by approximately 5.8 percent this year, propelled by elevated oil production and expansion in tourism, finance and construction sectors. The non-oil sector continues to account for three‑quarters of national output, demonstrating effective economic diversification and a supportive fiscal framework. In Saudi Arabia, output has received a boost from OPEC+ adjustments. Riyadh, urging increased production, has reversed voluntary cuts of the past five years—liberating more oil onto global markets. This strategic move supports GDP growth, although economists caution it may obscure a weakening non-oil sector if public spending tightens. ADVERTISEMENT The Israel‑Iran confrontation has prised markets into cautious territory. Brent crude spiked above $78 per barrel before cooling slightly, driven by anxiety over possible supply shocks—from disruptions in Iran or through the Strait of Hormuz—though analysts generally see deep disruption as unlikely. Asian refiners, including in India, have shifted toward securing Middle East crude via term contracts, avoiding speculative premiums in spot markets. The UAE's stock markets reflect this duality. Following earlier losses, the Dubai and Abu Dhabi indices rebounded—rising 1.6 percent and 1 percent respectively—as hopes of de‑escalation emerged, buoyed by diplomatic mediation efforts. Nevertheless, Capital Economics warns that if the conflict deepens, Gulf growth advantages could erode. Iran's economy—roughly 0.85 percent of global GDP—might shrink by around 50 percent in a prolonged conflict, impacting trading partners; the UAE's exports to Iran alone represent 1.2 percent of GDP. A wider regional confrontation could trigger oil-price spikes, creating destabilising ripple effects. Yet projections remain cautiously optimistic. Capital Economics outlines a scenario in which hostilities subside within weeks: oil prices normalise near $65 per barrel and Gulf GDP growth remains robust. Oxford Economics likewise suggests that even in more severe oil‑shock scenarios, the macroeconomic impact may be limited and manageable. Longer‑term resilience in the Gulf is being supported by strategic diversification initiatives. UAE's efforts to expand non-oil industries through tourism, financial services and infrastructure are dovetailing with Saudi Arabia's Vision 2030—including privatisation of state assets and SME expansion to lift non-oil GDP share. Nevertheless, analysts assert that non‑oil sectors in Saudi Arabia are showing signs of strain. Early signs of contraction coincide with public spending consolidation, even as oil revenues rise. UAE diversification, in contrast, has maintained momentum, with forecasts rising from 4 percent in 2024 to 4.5 percent in 2025 and 5.5 percent in 2026. Region‑wide growth expectations have been revised upward—GCC economies are now seen expanding around 4.4 percent this year, a 0.4 point upgrade—driven by faster OPEC+ output and sustained non-oil activity in key states. Despite these positive forecasts, cautious tones persist. Market volatility has increased across bonds, equities and currencies. A protracted conflict—which includes threats to Strait of Hormuz oil shipments—could have serious economic consequences.
Arabian Post
a day ago
- Arabian Post
Question.AI Redefines Instant Academic Support
has launched a significantly enhanced AI-driven educational platform designed to provide immediate, accurate assistance across diverse subjects. Now boasting over 20 million monthly users, the platform offers image-based problem solving, writing enhancements, multilingual translation, and real-time AI chat—all accessible around the clock. At the heart of the offering is a 'snap‑and‑solve' feature that allows users to upload photos of homework problems and receive detailed, step‑by‑step solutions powered by sophisticated image recognition and deep‑learning technology. This functionality has attracted millions of users seeking efficient academic assistance outside traditional classroom boundaries. In addition to problem solving, the platform offers an advanced writing tool that polishes grammar, improves style, and can tailor text—ranging from concise summaries to elaborate explanations. These features make it a versatile tool for academic or professional writing. ADVERTISEMENT A built‑in AI Search function delivers context‑aware answers directly, eliminating the need to sift through multiple web searches. Complementing this is a multilingual translation feature that ensures accessibility for non‑English speakers and supports inclusive global learning. Available via mobile app and web, has been downloaded over 10 million times, garnering a strong rating of 4.5 on Google Play thanks to its intuitive interface. User reviews highlight quick and accurate solutions, though some report frequent in‑app advertisements affecting the user experience. Commercially, the platform has expanded rapidly due to its flexible pricing structure. A free tier offers essential tools, while subscription options unlock premium features—including ad‑free use, advanced analytics, and increased usage limits—allowing users to engage at varying levels based on their needs. The company has made significant investments to support 24/7 performance. A statement from a company spokesperson emphasised the team's dedication to continuous improvement, with upcoming features including interactive learning modules and integration with educational content management systems. Academic experts and educators have welcomed the platform's capabilities. Dr Priya Nair, an education specialist, commented that 'instant feedback and personalised guidance can enhance understanding and foster independent learning,' although she cautioned against students bypassing fundamental problem‑solving skills. Teachers have also raised concerns about potential over‑reliance, urging prudent use in tandem with traditional study practices. A comparative analysis shows aligning with global edtech trends, particularly in offering multimodal learning—integrating text, visuals, and interactive chat features. Competitors like Chegg and Photomath focus primarily on textbook solutions, while distinguishes itself with a broader feature set that includes writing refinement and multilingual support. Security and data privacy remain central to the platform's promise. The company states that all user data is encrypted during transmission, and users can request deletion of personal information—an important feature as users share problem‑specific images and documents. In a crowded edtech market increasingly shaped by artificial intelligence, stands out through its comprehensive capabilities and rapid user adoption. With billions of students worldwide seeking reliable support, the platform's success reflects a shift towards personalised, on‑demand learning tools.
