JUST when it seemed like there may be some relief for motorists, with the strengthening rand and international petroleum product prices decreasing, the Department of Mineral Resources and Energy has confirmed yet another increase in petrol prices, though a welcome decrease in the price of diesel.

Also read: Minister says fuel reserves are stable

In a statement released by the Department of Mineral and Petroleum Resources, Minister Gwede Mantashe announced the adjustment of fuel prices, effective June 3. The country’s fuel prices are adjusted according to local and international factors.

What are the price adjustments?

• Petrol 93 is increasing by R1,43 per litre
• Petrol 95 is increasing by R1,43 per litre
• Diesel (0.005% sulphur) is decreasing by around R3,25 per litre
• Diesel (0.005% sulphur) is decreasing by around R2,62 per litre

What factors led to the changes?

According to the statement, Brent Crude oil prices increased from 101 USD to 104.59 USD due to the continued tensions between the US and Iran.

The average international product prices decreased during the period under review and the heftier decrease in diesel prices are due to lower seasonal demand. The rand appreciated on average against the dollar, increasing from R16,65 to R16,52 per USD.

Short-term relief measures by the South African government have been reduced to R1,50 per litre for petrol and R1,96 per litre for diesel.

For more South Coast Sun news, follow us on Facebook, Twitter and Instagram. You can also check out our videos on our YouTube channel or follow us on TikTok.

Subscribe to our free weekly newsletter and get news delivered straight to your inbox.

Do you have more information pertaining to this story? Feel free to let us know by commenting on our Facebook page or you can contact our newsroom on 031 903 2341 and speak to a journalist.