For illustration purposes.
South Africans will enjoy significant fuel price reductions from Wednesday, July 01, after the Department of Mineral and Petroleum Resources (DMPR) announced decreases in the prices of petrol, diesel and illuminating paraffin.
The latest adjustment will see the price of Petrol 93 (ULP and LRP) decrease by R2.01 per litre, while Petrol 95 (ULP and LRP) will drop by R1.96 per litre.
Diesel prices will also fall sharply, with 0.05% sulphur diesel decreasing by R3.13 per litre and 0.005% sulphur diesel by R3.58 per litre.
The wholesale price of illuminating paraffin will decrease by R5.23 per litre, while the maximum national retail price of illuminating paraffin will fall by R6.97 per litre.
However, the maximum retail price of LP Gas will increase by 16 cents per kilogram, and by 19 cents per kilogram in the Western Cape.
The price adjustment means motorists in Gauteng will pay R26.10 per litre for 95 unleaded petrol, down from the current R28.06.
At the coast, the price will decrease from R27.19 to R25.23 per litre.
According to the DMPR, the decline in fuel prices was mainly driven by a sharp drop in international crude oil prices.
“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.
The department added that lower international petroleum product prices contributed to the reduction in the Basic Fuel Price of petrol, diesel and illuminating paraffin.
Meanwhile, the prices of propane and butane increased during the review period, resulting in a slight increase in LP Gas prices.
The strengthening of the South African rand against the US dollar also contributed to the lower fuel prices. During the review period, the rand appreciated from R16.52 to R16.38 against the dollar, further reducing the cost of imported fuel products.
Despite the price relief, the DMPR announced that government’s temporary fuel levy relief has now 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.
The latest fuel price reductions are expected to provide welcome relief to households and businesses facing rising living costs, while also easing transport and logistics expenses across the country.
