Promised fuel price cuts put on pause…but only until Thursday

Some Mzansi motorists were in for a shock this morning when they pulled into fuel stations expecting a dramatic decrease in the price of petrol and diesel. This was however not the case.

Breaking away from the norm of fuel price adjustments coming into play on the first Wednesday of every month, the department of mineral resources and energy said on Tuesday evening that the promised cuts will only take effect from Thursday, 4 July.

July fuel price: Motorists waiting for Gwede to find his pen

President Cyril Ramaphosa’s announced the Government of National Unity (GNU) Cabinet late on Sunday evening. The new ministers, however, had not been sworn in in time to sign off on the official fuel price changes.

Gwede Mantashe has been appointed as the mineral and petroleum resources minister for the 7th administration. In the previous administration, he was the mineral resources and energy minister.

The energy portfolio now falls under former electricity minister Kgosientsho Ramokgopa who will head up the new department of electricity and energy. 

Fuel recoveries

Fuel recoveries have been in motorists’ favour, with both petrol and diesel showing over-recoveries for June, This translates into July marking the third petrol price decrease of 2024, which has regularly favoured the country’s diesel drivers.

Official fuel price changes: Petrol, diesel and paraffin prices

• Petrol 93: Decrease of R1.05 per litre;
• Petrol 95: Decrease of 99c per litre;
• Diesel 500ppm: Decrease of 30c per litre;
• Diesel 50ppm: Decrease of 24c per litre; and
• Illuminating paraffin: Decrease of 18c per litre.

This month’s slate levy will be decreased by R4.38 per litre.

Price per litre: Inland and coastal

From midnight on Thursday, the following fuel prices apply:

INLAND

• ULP93 : R22.86
• ULP95 : R23.36
• Diesel (0.005%): R20.91
• Diesel (0.05%): R20.66

COAST

• ULP93: R22.07
• ULP95: R22.47
• Diesel (0.005%): R20.15
• Diesel (0.05%): R19.87

The international oil prices and the rand remained relatively stable during June, with Brent Crude oil decreasing slightly from $82.98 (R1,535) per barrel to $82.24, while the rand on average appreciated from R18.46 to the US dollar to R18.44.