Fuel prices to drop from July as petrol and diesel become cheaper
Motorists will receive welcome relief from July after the Department of Mineral and Petroleum Resources announced significant cuts to petrol, diesel and illuminating paraffin prices.
South African motorists and consumers will receive welcome relief from July after the Department of Mineral and Petroleum Resources (DMPR) announced decreases in the prices of petrol, diesel and illuminating paraffin.
According to the South African Government News Agency, the new fuel prices take effect from Wednesday, with the only increase applying to liquefied petroleum gas (LP Gas). The adjustments are as follows:
- Petrol 93 (ULP and LRP): decrease of R2.01/l
- Petrol 95 (ULP and LRP): decrease of R1.96/l
- Diesel (0.05% sulphur): decrease of R3.13/l
- Diesel (0.005% sulphur): decrease of R3.58/l
- Illuminating paraffin (wholesale): decrease of R5.23/l
- Single maximum national retail price for illuminating paraffin: decrease of R6.97/l
- Maximum retail price of LP Gas: increase of 16c/kg nationally and 19c/kg in the Western Cape
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In Gauteng, the price of 95 unleaded petrol will decrease from R28.06 to R26.10 per litre. At the coast, it will drop from R27.19 to R25.23 per litre.
The Department of Mineral and Petroleum Resources attributed the price reductions to a decline in international oil prices and a stronger rand.
“The average Brent crude oil price decreased from 104.59 US dollars to 86.53 US dollars during the period under review.
“This is due to the signing of the Memorandum of Understanding between the United States and Iran, which has improved the global supply outlook,” the department said.
It added that international prices for refined petroleum products also declined, reducing the basic fuel price for petrol, diesel and illuminating paraffin.
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During the same period, the rand strengthened against the US dollar from R16.52 to R16.38, further contributing to lower fuel prices.
The department also confirmed that the government’s temporary fuel levy relief has come to an end.
“The short-term relief measures have been completely phased out and the full fuel levies of 429.00 cents per litre on petrol and 416.00 cents per litre on diesel will be reinstated,” the department said.
