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Wednesday, July 17, 2024

Slight fuel price decreases announced for August

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Petrol price is set to decrease by R1.32 on Wednesday for both 93 and 95 unleaded.

For inland motorists, who are currently forking out R26.31 per litre for 93 unleaded and R26.74 per litre for 95 unleaded, the drop fails to break the R25 mark broken with the previous increase.

The new fuel prices will drop to below R26 for coastal motorists who are currently paying slightly lower fuel prices, at R25.66 per litre for 93 unleaded and R26.09 per litre for 95 unleaded.

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The diesel price drops by between 88 and 91-cents a litre from the current R25.40 per litre for inland motorists. Coastal motorists are currently filling up by R24.75.

Illuminated paraffin will cost R1.44 less a litre.

Only the Maximum LPGas Retail price will spike with the new pricing, at 57 cents per kilogram.

At the same time, the process to deregulate petrol prices has begun.

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Mineral Resources and Energy Minister, Gwede Mantashe has published a notice for public comment.

Read also: Fuel price capping gives an unfair advantage to illegal traders over retailers – FRA

The move would allow retailers to determine their own prices, up to a specific limit.

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