It’s that time of the month again, folks. Time for the Department of Mineral Resources and Energy to either uplift our spirits or absolutely shatter them into pieces. Normally, this is when we’d tell you to run for cover (and the nearest garage) but after June’s official update knocked R1+ off the prices across all grades of fuel, we feel a little more optimistic.
Thankfully, our optimism has paid off. The Department has maintained that same energy for July, bringing yet another month of cheaper petrol, diesel and paraffin with it. It marks the third petrol price decrease of 2024, which has regularly favoured the country’s diesel drivers – often leaving petrol drivers to fend for themselves with fuel prices above R25/l.
From Thursday, 4 July, onwards, petrol will instead hover around the R22-R23/litre mark.
Good news, everyone!
If you’d kept up with the Central Energy Fund’s (CEF) petrol price predictions throughout June as we have, the change probably won’t come as much of a shock. The CEF, a state-owned energy company reporting directly to the Department, is charged with tracking any mitigating economic factors daily that could rock fuel prices in SA ahead of the first Wednesday of any given month.
Specifically, that means keeping an eye on the current Rand/US Dollar exchange rate, and the price of refined oil globally. The Department, which is in charge of officially adjusting the prices, looks at all the same data to arrive at the figures seen below. Fear not, for it cannot artificially inflate these at the drop of a hat. It’s all down to those factors we mentioned earlier – though it does control the country’s slate levy mechanism.
This month’s slate levy will be decreased by 4.38c/l.
Read More: Toyota’s refreshed and hybridised Hilux 48V bakkies cost a pretty penny
From 00:01 on the morning of Thursday, 4 July, petroleum-based fuels will see the following changes:
- Petrol 93: decrease of 105 cents per litre (R1.05)
- Petrol 95: decrease of 99 cents per litre (R0.99)
- Diesel 0.05%: decrease of 30 cents per litre (R0.30)
- Diesel 0.005%: decrease of 24 cents per litre (R0.24)
- Illuminating Paraffin: decrease of 18 cents per litre (R0.18)
- LPGAS: decrease of 22 cents per kilogram (R0.22)