South African motorists will see a slight drop in fuel prices from Wednesday, with petrol decreasing by 4 cents per litre and diesel falling by up to 57 cents – a modest reprieve following August’s sharp hikes of up to 7.7 percent.
The Department of Mineral and Petroleum Resources confirmed the adjustments on Tuesday, which take effect on 3 September.
Petrol 93 and 95 (ULP & LRP) will drop by 4 cents per litre while diesel 0.05% sulphur and 0.005% sulphur will decrease by 56 and 57 cents, respectively.
Illuminating paraffin will fall by 37 cents wholesale and LPG will see reductions of R1.32 (about $0.08) nationally and R1.51 in the Western Cape province.
The price cuts follow a decline in the average Brent Crude oil price from $69.06 to $67.01, driven by increased output from OPEC+ and non-OPEC producers, a slowing global economy and uncertainty around trade tariffs.
These factors led to lower international petroleum product prices, reducing contributions to the Basic Fuel Price by 1.88 cents for petrol and over 54 cents for diesel.
The rand also appreciated slightly against the US dollar during the review period, cushioning fuel prices by approximately 2 cents per litre across all products.
In Gauteng province, a litre of Petrol 95 will now cost R21.55, while coastal motorists will pay R20.72.
Diesel prices will drop to R19.44 inland and R18.61 at the coast for 0.05% sulphur grades.
JN/APA