South African motorists will pay less for petrol in August, but diesel users face a sharp increase after the department of mineral and petroleum resources’ latest monthly fuel price adjustments announced on Monday.
The prices of 93-octane and 95-octane petrol will decrease by 52c/l, while the wholesale price of 500ppm and 50ppm diesel will increase by R1.38/l and R1.23/l respectively. The wholesale price of illuminating paraffin will increase by R1.52/l.
According to the department, the average international price of petrol declined during the fuel price review period from June 26 to July 30, while international prices for diesel and illuminating paraffin increased.
The rand weakened slightly against the US dollar, averaging R16.45/$ during the review period, compared with R16.37/$ previously. This added 6.36c/l to the basic fuel price (BFP) of petrol, 8.141c/l to diesel and 7.88c/l to illuminating paraffin.
A key factor behind the August adjustment was a reduction in the slate levy. From August 5 the levy will decrease from 113.94c/l to 61.38c/l, reducing the fuel price structure by 52.56c/l for petrol and diesel.
The department said the reduction followed an improvement in the combined cumulative petrol and diesel slate balance, which stood at a deficit of R7.41bn at the end of June.
The lower slate levy largely accounted for the reduction in petrol prices and helped limit the increase in diesel prices, which would otherwise have been significantly higher.
From midnight on Tuesday, motorists will pay R25.42/l for 93-octane petrol and R25.58/l for 95-octane petrol inland, while coastal 95-octane petrol will cost R24.71/l.
The wholesale price of 500ppm diesel will be R26.16/l inland and R25.29/l at the coast, while 50ppm diesel will cost R26.39/l inland and R25.64/l at the coast.
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