A statement by the Department of Mineral Resources and Energy says the average price of Brent crude oil increased during the review period from $82,24 to $83,55 per barrel.
This increase is due to a reduction in US stockpiles, reduced production in Canada due to wildfires, conflict in the Middle East, and ongoing production cuts by oil-producing countries.
However, during the same period the rand strengthened against the dollar from R18,44 to R18,23. As a result, the prices of all fuel products will be lower from Wednesday.
The official decreases for August are:
- All grades of petrol: 15c per litre
- Diesel with 0.05% sulphur: 28c per litre
- Diesel with 0.005% sulphur: 17c per litre
- Paraffin: 22c per litre
- Gas: 14c per kilogram
