Motorists will wake to cheaper fuel prices on Wednesday morning, with both grades of petrol to decrease by 71c/l, while the wholesale price of diesel drops 80c (0.005% sulphur) and 84c (0.05% sulphur).
Illuminating paraffin decreases by 43c/l.
The mineral resources and energy department said the decreases were driven by lower international fuel prices.
The Automobile Association (AA) said while the weaker rand reduced the price cuts, it still comes as welcome relief to motorists after petrol prices the previous month were hiked to more than R23/l for the first time this year.
“Increasing interest rates are adding pressure on already embattled consumers in a weak economy. Many people are struggling to make ends meet and any relief, even if it is slight, will assist consumers. The forecast decreases in the price of diesel are especially welcome given that this fuel accounts for significant input costs in all sectors which are often passed on to consumers. A decrease in the price of this fuel is welcome and timely,” it said.
Petrol and diesel prices to drop on Wednesday
Image: Freddy Mavunda
Motorists will wake to cheaper fuel prices on Wednesday morning, with both grades of petrol to decrease by 71c/l, while the wholesale price of diesel drops 80c (0.005% sulphur) and 84c (0.05% sulphur).
Illuminating paraffin decreases by 43c/l.
The mineral resources and energy department said the decreases were driven by lower international fuel prices.
The Automobile Association (AA) said while the weaker rand reduced the price cuts, it still comes as welcome relief to motorists after petrol prices the previous month were hiked to more than R23/l for the first time this year.
“Increasing interest rates are adding pressure on already embattled consumers in a weak economy. Many people are struggling to make ends meet and any relief, even if it is slight, will assist consumers. The forecast decreases in the price of diesel are especially welcome given that this fuel accounts for significant input costs in all sectors which are often passed on to consumers. A decrease in the price of this fuel is welcome and timely,” it said.
“The minister of finance approved an increase of 1c/l in the petrol and diesel price structures to allow the industry to recoup the fuel levy payment for April 2023 with effect from May 3,” said the department.
“However, this has been removed and with effect from June 7 the fuel levy will decrease to 395c/l and 381c/l respectively in the petrol and diesel prices.”
From Wednesday, fuel will cost:
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