August's official fuel prices bring relief for petrol and diesel drivers

After what’s proved to be a difficult year for South African motorists where the official fuel price is concerned, our patience is finally paying off. The Department of Mineral Resources and Energy, the ones in charge of adjusting the country’s fuel prices, will officially decrease prices across the board on Wednesday, 7 August. That goes for you too, diesel drivers.

Wake me up when Tuesday ends

This won’t come as a surprise to the Stuff readers who have kept up with our petrol and diesel price predictions throughout July. The Central Energy Fund (CEF), an energy company reporting directly to the Department, has promised somewhat minor price decreases for weeks, with the most recent prediction foretelling a 6-9c price decrease for petrol drivers, while diesel drivers are expecting a 22c price cut.

Fortunately, Stuff can confirm that the Department’s official figures are even better than expected.

There’s no use rushing off to the nearest garage just yet. The Department’s official fuel price cuts will only come into effect from 7 August – the first Wednesday of the month. During July, the average price of Brent Crude oil rose from $82.24 to $83.55 – which in the past might have caused a price increase, as opposed to the decrease heading our way this August.

We can thank the strengthening Rand against the Dollar for our saving grace, with South Africa’s currency appreciating through July. Better yet, the Department’s often annoying Self-Adjusting Slate Levy Mechanism will see no movement for August, remaining at R0.00.