Fuel Drop On The Cards For May

South African motorists may have more reason to smile next month, with petrol and diesel prices likely to drop again, thanks to falling global oil prices and a slightly stronger rand.

According to data released by the Central Energy Fund CEF at the end of the third week in April, over-recoveries continue to trend positively - a key indicator used to determine monthly fuel price adjustments.

Petrol is showing an over-recovery of between 19 and 21 cents per litre, while diesel has improved even more significantly, with a 38-cent over-recovery logged for both grades. Illuminating paraffin is also expected to be 30 cents cheaper per litre, as first reported by BusinessTech .

This welcome news comes during the current global economic turbulence, triggered by US President Donald Trump's surprise implementation of a 10 universal tariff on imported goods earlier in April.

The move rattled markets and pushed oil prices below 63 a barrel, sending shockwaves through supply chains and sparking fears of a global slowdown.