Welcome relief for motorists as fuel prices drop for July
Fuel prices are finally on a downward trend, much to the relief of South African motorists.
A long-awaited reprieve for motorists was announced by Mineral and Petroleum Resources Minister Gwede Mantashe on June 30.
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Fuel prices in July
- Petrol 93 decreases by R2.01.
- Petrol 95 decreases by R1.96.
- Diesel 0.05% sulphur decreases by R3.13.
- Diesel 0.005% sulphur decreases by R3.58.
This comes after the average prices of Brent Crude oil significantly declined from $104.59 to $86.53 following the signing of a memorandum of understanding between the US and Iran regarding the Strait of Hormuz.
In addition, the rand strengthened against the US dollar from R16.52 to R16.38.
Short-term relief ends
The short-term fuel levy relief will phase out on July 1 and full fuel levies of R4.29 per litre on petrol and R4.16 per litre of diesel will be reinstated.
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