Good news for motorists thanks to June fuel price cuts
The department of mineral resources and energy says the cuts are due to the decrease in international fuel prices and a stronger rand
There will be major price cuts in June for all grades of fuel, providing some relief for motorists.
The biggest decrease is in the price of petrol, with the retail price of both 93 and 95 unleaded to reduce by R1.24/l at midnight on Tuesday. The wholesale price of high-sulphur 0.05% diesel will drop by R1.18/l, with low-sulphur 0.005% set to reduce by R1.09/l. Illuminating paraffin is down 80c/l.
The department of mineral resources and energy attributed the good news to the reduction in international fuel prices during the period under review as well as the rand appreciating from R18.93 to R18.46 against the dollar.
The Automobile Association (AA) said that while the decreases would bring relief, the cost of fuel was still higher than it was a few months ago, and again pointed to the financial pressure many South Africans were under.
“High fuel costs and interest rates are strangling many South Africans, especially those with debt, and any positive development will be well received. However, it remains necessary that the fuel pricing mechanism is reviewed to determine if there are any factors that can be permanently revised to mitigate against rising fuel costs in future,” said the association.
“This is a call we have been making on government since 2018 and the longer it takes to do so, the longer South Africans will bear the brunt of fluctuations in the factors that influence the fuel price.”
From June 5 2024 the following fuel prices will apply:
Inland:
- Petrol 93 ULP — R23.91
- Petrol 95 ULP — R24.25
- Diesel 0.05% — R20.96
- Diesel 0.005% — R21.15
Coast:
- Petrol 93 ULP — R23.12
- Petrol 95 ULP — R23.46
- Diesel 0.05% — R20.18
- Diesel 0.005% — R20.40