Fuel prices slashed: this is what you will pay for petrol and diesel from Wednesday

As predicted, the department of mineral resources and energy has confirmed major fuel price cuts will be implemented from midnight on Tuesday.

Motorists can look forward to paying 92c/l less for both grades of petrol (93 and 95 octane), while the wholesale prices of diesel will drop R1.05/l for low sulphur 50ppm fuel and 79c less for 500ppm sulphur diesel.

The wholesale price of illuminating paraffin reduces by R1.03/l.

The main reasons for the fuel price adjustments are lower international fuel prices and a stronger rand. During the period under review the average Brent Crude oil price decreased from $83.55 to $78.54 per barrel, while the rand appreciated from R18.23 to R18.05 to the dollar.

It is the fourth consecutive month fuel prices have decreased and includes a 5.3c/l increase in the fuel retail margin to accommodate a wage increase for forecourt employees.

From September 4 the following fuel prices will apply:

GAUTENG

• 93 ULP: R21.79
• 95 ULP: R22.19
• Diesel (500ppm): R19.59
• Diesel (50ppm): R19.69

COAST

• 93 ULP: R21.00
• 95 ULP: R21.40
• Diesel (500ppm): R18.80
• Diesel (50ppm): R18.93.