Fuel prices in South Africa are heavily influenced by the Brent Crude oil price rose from $82.24 to $83.55 per barrel.
This increase is attributed to factors such as declining US inventories, reduced production in Canada due to wildfires, ongoing tensions in the Middle East, and continued production cuts by OPEC.
Average international prices for petrol saw a slight increase, driven by heightened summer demand in the Northern Hemisphere.
In contrast, the prices for diesel and illuminating paraffin decreased on average during the review period.
Rand appreciation against the US Dollar was also good, with the exchange rate moving from R18.44 to R18.23.
This appreciation contributed to a reduction in the Basic Fuel Prices of all products by approximately 14c/l.
The cumulative slate recorded a positive balance of R1.8bn for petrol and diesel at the end of June 2024.
According to the Self-Adjusting Slate Levy Mechanism, the slate levy will remain at zero for petrol and diesel in August.
Based on the current local and international factors, the fuel prices for August 2024 will be adjusted as follows:
Petrol 93 (ULP & LRP): Decrease of 15c/l
Petrol 95 (ULP & LRP): Decrease of 15c/l
Diesel (0.05% sulphur): Decrease of 28c/l
Diesel (0.005% sulphur): Decrease of 17c/l
Illuminating Paraffin (wholesale): Decrease of 22c/l
Illuminating Paraffin: Decrease of 29.00 c/l
LPGas: Decrease of 14.00c/kg
