Vroom! fuel prices hit the brakes

The Department of Mineral Resources and Energy has announced an adjustment to South Africa’s fuel prices, effective September 4, 2024.
The adjustment is based on current local and international factors.

South Africa’s fuel prices are reviewed monthly, taking into account international and local factors.
International factors include the importation of crude oil and finished products at prices set on the international market, including shipping costs.

The main reasons for the fuel price adjustments are:

• Crude oil prices: The average Brent Crude oil price decreased from $83.55 to $78.54 per barrel.
• International petroleum product prices: Prices decreased in line with lower crude oil prices.
• Rand/US Dollar exchange rate: The Rand appreciated against the US Dollar, leading to lower contributions to the Basic Fuel Prices.
• Implementation of the Slate Levy: A positive balance of R2.13 billion for petrol and diesel resulted in no slate levy.
• Annual Wages Adjustment for Forecourt Staff: A 5.3 cents per liter increase for petrol to accommodate wage increases.

As a result, fuel prices for September 2024 will be adjusted as follows:

• Petrol 93 (ULP & LRP): 92 cents per liter decrease
• Petrol 95 (ULP & LRP): 92 cents per liter decrease
• Diesel (0.05% sulphur): 79 cents per liter decrease
• Diesel (0.005% sulphur): 105 cents per liter decrease
• Illuminating Paraffin (wholesale): 103 cents per liter decrease
• SMNRP for IP: 138 cents per liter decrease
• Maximum LPGas Retail Price: 10 cents per kilogram decrease

The Department of Mineral Resources and Energy reviews fuel prices monthly to ensure they reflect current market conditions.