Latest news with #R21.40
The Citizen
3 days ago
- Business
- The Citizen
Petrol and diesel prices drop from Wednesday, 4 June, but levy
This is how much it will cost you at the pumps While South African motorists will pay less for petrol and diesel at the pumps from next week, petrol costs will still be affected by the fuel levy. The slight petrol price decrease from Wednesday, 4 June 2025, will be a relief for cash-strapped motorists. Petrol and diesel prices The Department of Mineral Resources and Energy (DMRE) announced that the prices of both 93-octane and 95-octane petrol will decrease by five cents per litre. The price of both grades of diesel with (0.05% sulphur) and (0.005% sulphur) goes down by 36.9 cents per litre. Meanwhile, illuminating paraffin will cost 56 cents less per litre, while the price of LP gas decreases by 89 cents per kg. ALSO READ: Fuel levy hike to go ahead as EFF fails in court How much will fuel cost you? When the fuel price adjustment kicks in, a litre of 93 unleaded petrol will cost R21.40 per litre, while 95 unleaded will be R21.51 The wholesale price of 0.05% diesel will decrease to R18.68 per litre, and 0.005% will cost R18.73 Reasons for petrol decrease DMRE spokesperson Robert Maake said several factors, including the international petroleum product prices and the rand/US dollar exchange rate, contributed to the decrease in petrol and diesel prices. Brent Crude oil price Maake said the average Brent Crude oil price decreased from 66.40 US Dollars (USD) to 63.95 USD during the period under review. 'The main contributing factors are the continued global trade uncertainty, lower global crude oil demand outlook, as well as the OPEC+ announcement of planned production increase in June 2025 and possibly in July 2025'. Rand/US dollar exchange Maake said the Rand appreciated on average, against the US Dollar (from 18.84 to 18.11 Rand per USD) during the period under review when compared to the previous one. 'This led to lower contributions to the Basic Fuel Prices of petrol, diesel and Illuminating Paraffin by over 39.00 cents per litre'. Fuel levy The Minister of Finance, Enoch Godongwana, in his Budget Vote Speech on the 21st of May 2025, announced that the Fuel Levy will increase by 16.00 c/l on petrol and 15.00 c/l on diesel, respectively, with effect from the 4th of June 2025. 'Therefore, the Fuel Levy in the price structures of petrol and diesel will increase to R4.15 per litre and R4.02 per litre, respectively. 'The Road Accident Fund levy remains unchanged at R2.18 per litre on the price structures of petrol and diesel,' Maake said. Slate levy Maake said the cumulative slate amounted to a positive balance of R4.486 billion for petrol and diesel at the end of April 2025. 'In line with the provisions of the Self-Adjusting Slate Levy Mechanism, a slate levy remains unchanged at zero cents per litre in the price structures of petrol and diesel with effect from the 4th of June 2025,' Maake said. ALSO READ: Cape Town F1 Grand Prix proposal aims to build on World Cup legacy
The Citizen
05-05-2025
- Business
- The Citizen
Motorists to pay less for fuel as petrol, diesel prices fall
Motorists to pay less for fuel as petrol, diesel prices fall Motorists will breathe a sigh of relief from Wednesday as the cost of all grades of petrol is set to come down. This comes as the Minister of Mineral and Petroleum Resources, Gwede Mantashe, announced the adjustment of fuel prices based on current local and international factors, with effect from May 7. The price of petrol 93 (ULP and LRP) will decrease by 22 cents a litre, while the price of 95 (ULP and LRP) will also come down by 22 cents a litre. Currently, a litre of petrol 95 costs R21.62 in Gauteng. As of Wednesday, this will come down to R21.40 a litre. At the coast, a litre of 95 petrol, which costs R20.79, will cost R20.57 as of Wednesday. Meanwhile, the price of diesel (0.05% sulphur) will decrease by 42 cents a litre, and that of diesel (0.005% sulphur) will come down by 41 cents a litre. The price of illuminating paraffin (wholesale) will decrease by 31 cents per litre. The single maximum national retail price for illuminating paraffin will see a 41 cent decrease, and the maximum LPGas retail price will increase by 46 cents per kilogram. 'The average brent crude oil price decreased from $71.04 to $66.40 during the period under review,' said the Department of Mineral and Petroleum Resources. It added that the tariff and trade war initiated by the United States, which has raised global economic recession concerns; a possible lower demand for crude oil; oversupply from non-OPEC countries; and the anticipated increase in oil production by Organisation of the Petroleum Exporting Countries members were the main contributing factors to the fuel price adjustments. 'The average international petroleum product prices of petrol and diesel followed the decreasing trend of crude oil prices while the price of LPG increased due to higher freight (shipping costs) during the period under review,' said the department. – Breaking news at your fingertips… Follow Caxton Network News on Facebook and join our WhatsApp channel. Nuus wat saakmaak. Volg Caxton Netwerk-nuus op Facebook en sluit aan by ons WhatsApp-kanaal. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
