It’s that time of the month, and once again, the Department of Mineral Resources and Energy has blessed our Monday morning with news that South Africa’s official petrol and diesel prices are set to go down (again) on Wednesday, 2 October.
This isn’t some minor decrease, either. The Department has continued the trend we’ve become rather used to in the back-end of 2024, with yet another R1+ price drop in store for both petrol and diesel drivers in South Africa. Unfortunately, those buyers of LPGAS will have to contend with a minor R0.23 increase.
You’ll want to see this
The news of yet another price decrease won’t come as a surprise to anybody who’s followed Stuff in its pursuit to keep up with the Central Energy Fund’s (CEF) continual fuel price updates throughout September. The CEF is responsible for tracking the various economic factors that contribute toward adjusting the fuel price daily, before eventually reporting its findings to the Department at the end of the month.
Those factors, primarily, involve the price of refined oil internationally as well as the average Rand/US Dollar exchange rate. Throughout September, the price of petrol, diesel and illuminating paraffin decreased, while the Rand continued to appreciate against the Dollar, leading to the drop in prices as seen below.
The Department cannot artificially inflate or deflate the fuel price across South Africa, though it does have some control over the Self-Adjusting Slate Levy Mechanism. For October, however, the Slate Levy on petrol and diesel will remain at R0.
From 00:01 on the morning of Wednesday, 2 October, petroleum-based fuels will see the following changes:
- Petrol 93: decrease of 106 cents per litre (R1.06)
- Petrol 95: decrease of 114 cents per litre (R1.14)
- Diesel 0.05%: decrease of 114 cents per litre (R1.14)
- Diesel 0.005%: decrease of 112 cents per litre (R1.12)
- Illuminating Paraffin: decrease of 111 cents per litre (R1.11)
- LPGAS: increase of 23 cents per kilogram (R0.23)