The Department of Mineral Resources and Energy has confirmed that petrol and diesel prices will decrease in July, following a series of price increases in the first half of 2024. Starting on June 4, 93 Unleaded petrol will drop by R1.05 and 95 Unleaded by 99 cents per litre, while diesel will decrease by between 30 cents (500ppm) and 24 cents (50ppm). Illuminating paraffin will also decrease by 18 cents. Consumers will now pay R22.47 for a litre of 95 Unleaded petrol at the coast and R23.26 in the inland regions, while 93 Unleaded petrol will retail for R22.86.
The wholesale price of 50ppm diesel will fall to R20.15 at the coast and R20.91 inland, with unregulated retail prices being more than R2 higher than those at fuel stations. The fuel price relief in July is largely due to lower international oil prices during June, with the Slate Levy contributing four cents to the price cuts. Following President Cyril Ramaphosa's first cabinet reshuffle, the Automobile Association is calling for a comprehensive review of the current fuel price calculation.
