04 June 2024
South Africans received the good news on Tuesday morning that all grades of petrol, diesel, paraffin and gas will drop sharply from Wednesday.
Petrol will be R1.24 per litre cheaper, while diesel will be R1.09 to R1.19 per litre to cheaper.
The official drops for the month of June are:
* All grades of petrol: R1.24 per litre
*Diesel with 0.05% sulphur: R1.19 per litre
*Diesel with 0.005% sulphur: R1.09 per litre
*Paraffin: R1,07 per litre
* Gas: R1.35 per kilogram
The price of 95-octane petrol in Gauteng will then be R24.25 per litre, and on the coast R23.46 per litre.
The drop makes 95-octane gasoline the cheapest in four months since February.
Diesel drops to R20.97 per litre in Gauteng and R20.18 per litre on the coast. It will be the cheapest in five months since January.
Gwede Mantashe, Minister of Mineral Resources and Energy, says the adjustment of fuel prices was influenced by local and international factors.
The drop comes thanks to cheaper fuel internationally and the stronger rand, which contributes about 30c per litre to the drop.
This can also be attributed to the balance fund levy of 21.54c per litre, which has been cut to 4.39c per litre.
The reduction in the balance fund levy is thanks to the fact that the negative balance in the balance fund shrunk to -R696.3 million by the end of April. If the balance shrinks further to -R500 million, the levy will disappear.
