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The Minister of Mineral and Petroleum Resources, Gwede Mantashe, announced on Monday the latest monthly fuel price adjustments, with petrol users set for some relief while diesel consumers face steep increases.<\/p>\n
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From August 5, both grades of petrol will decrease by $0.030 per litre.<\/p>\n
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Diesel prices will move in the opposite direction. Diesel with 0.05% sulphur will increase by $0.030 per litre, while diesel with 0.005% sulphur will rise by $0.030 per litre.<\/p>\n
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Illuminating paraffin will also become more expensive. The wholesale price will increase by $0.092 per litre, while the single maximum national retail price for illuminating paraffin will rise by $0.12 per litre.<\/p>\n
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The department said the adjustment was driven by a combination of international oil prices, petroleum product prices, exchange rate movements and the implementation of the slate levy.<\/p>\n
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The average Brent crude oil price declined from $86.53 to $82.37 during the review period. The department said renewed United States and Iran tensions briefly pushed prices towards the $100 mark, but the impact was offset by earlier price declines linked to the ceasefire memorandum of understanding between the two countries and lower global demand.<\/p>\n
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International petrol product prices declined during the review period, helping lower the basic fuel price for petrol. However, diesel and illuminating paraffin prices increased because of supply shortages linked to the Russia-Ukraine conflict and restrictions on Russian diesel exports.<\/p>\n
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Middle East refineries operating below capacity also added pressure to diesel and illuminating paraffin prices.<\/p>\n
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The Rand weakened slightly against the Dollar, moving from 16.34 to 16.46. This contributed to higher basic fuel prices for petrol, diesel and illuminating paraffin.<\/p>\n
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The cumulative slate balance for petrol and diesel stood at a negative $451 million at the end of June. In line with the self-adjusting slate levy mechanism, the slate levy will be set at $0.037 per litre from August 5, down from $0 0674 per litre.<\/p>\n
The Maximum Refinery Gate Price for liquefied petroleum gas imported through Saldanha Bay will be $885 per metric ton, while the maximum retail price will be $2.18 per kilogram.<\/p>\n
The maximum retail price of LP Gas will decrease by $0.27 per kg.<\/p>\n
<\/p>\n
The department said SA’s fuel prices remain shaped by both domestic conditions and international market developments because the country imports crude oil and refined products.<\/p>\n
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–ChannelAfrica–<\/p>\n","protected":false},"featured_media":0,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-41432","news","type-news","status-publish","hentry","news-type-finance","entry"],"acf":{"short_description":"South Africa's (SA) Petrol prices will decrease from August 5, but diesel and illuminating paraffin prices will rise sharply because of international supply pressures.","published_date":"","news_description":"South Africa's (SA) Petrol prices will decrease from August 5, but diesel and illuminating paraffin prices will rise sharply because of international supply pressures.","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/41432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":2,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/41432\/revisions"}],"predecessor-version":[{"id":41435,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/41432\/revisions\/41435"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=41432"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=41432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}