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Diesel Price Up and Petrol Drops in Official July 2023 Adjustments

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The Department of Mineral Resources and Energy (DMRE) has announced the official fuel price adjustments for July, revealing a marginal decrease in petrol prices and a slight increase in diesel prices.

In an official statement issued on Monday, it was announced that the price of 95 Unleaded petrol would decrease by 17 cents per litre, effective from Wednesday, July 5.

Additionally, 93 Unleaded petrol would witness a reduction of 24 cents per litre.

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However, the news is not as favorable for diesel consumers.

The cost of 50ppm diesel is set to rise by 12 cents per litre, while the higher-sulfur 500ppm diesel will incur an additional 18 cents per litre.

Once these adjustments come into effect, motorists can expect to pay R21.74 per litre of 95 Unleaded petrol at the coast and R22.46 inland.

The more affordable 93 Unleaded petrol will now be priced at R22.06 per litre.

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While any reduction in fuel prices is always welcomed, the impact of these adjustments on the overall cost of filling up a tank may be barely noticeable.

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According to the DMRE, international petrol and diesel prices experienced an increase during the month, with diesel exhibiting a steeper inflationary trend. Interestingly, despite a slight decrease in Brent Crude oil prices from $75.90 in the previous month to $75.10, the rand strengthened against the US dollar.

The average exchange rate improved from R18.98 in the preceding month to R18.68 in June. This currency appreciation proved sufficient to tip the scales in favor of a minor petrol price cut.

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