Latest news with #R6.37
The Citizen
5 days ago
- Business
- The Citizen
Here is the official fuel price for June
Here is the official fuel price for June Despite a stronger rand and favourable oil price movements in May, South African motorists will see only a slight drop in fuel prices this June as a new fuel levy hike eats into potential savings at the pump. The Department of Mineral Resources and Energy confirmed on Tuesday that the official fuel price adjustments will come into effect on Wednesday, June 4, 2025. While consistent over-recoveries throughout May pointed to a more significant decrease, the levy increase announced in the latest national budget has narrowed the benefit by around 15 cents per litre. As a result, 93 and 95 petrol prices will drop slightly by 5 cents per litre, while diesel will see a larger decrease of 37 cents per litre. Here is the June fuel prices: Fuel Change Petrol 93 decrease of 5 cents per litre Petrol 95 decrease of 5 cents per litre Diesel 0.05% (wholesale) decrease of 37 cents per litre Diesel 0.005% (wholesale) decrease of 37 cents per litre Illuminating Paraffin (Wholesale) decrease of 56 cents per litre LPGAS decrease of 89 cents per kg Meanwhile, motorists remain on edge as the final fuel prices hinge on a court ruling following an urgent application by the Economic Freedom Fighters (EFF) to suspend the recent fuel levy increase. The 2025 levy increase will see the total tax on petrol rising to R6.37, including the R2.18 Road Accident Fund levy. Finance Minister Enoch Godongwana raised the General Fuel Levy, and announced various government expenditure cuts, in his third Budget Speech that was proposed on May 21. Also read: Is there an outbreak of Staphylococcus in Pretoria? Do you have more information about the story? Please send us an email to bennittb@ or phone us on 083 625 4114. For free breaking and community news, visit Rekord's websites: Rekord East For more news and interesting articles, like Rekord on Facebook, follow us on Twitter or Instagram or TikTok. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
IOL News
7 days ago
- Business
- IOL News
Here's what you're likely to pay for petrol and diesel from Wednesday, June 04
Petrol and diesel prices are likely to decrease marginally in June. Fuel taxes are set to increase for the first time in three years, but thankfully a stronger rand will shield South African motorists from fuel price hikes in June. The next fuel price adjustment will take place on Wednesday, June 04, and unaudited month-end data from the Central Energy Fund shows that minor price decreases are likely for both petrol and diesel. Petrol was looking set for a decrease of around 20 cents per litre, but with the 16 cent hike in the General Fuel Levy (GFL) set to take effect from Wednesday, a reduction of about four cents is on the cards. 93 Unleaded petrol currently costs R21.29 for a litre in Gauteng, with 95 ULP retailing at R21.40 inland and R20.60 at the coast. Diesel, whose over-recovery for the month pointed to a 51 cent decrease, now looks set to come down by 36 cents following the 15 cent levy hike for that fuel type. A stronger rand outweighed marginally weaker international oil prices to create over-recoveries for both petrol and diesel. However, any further strengthening of oil prices in the coming months will lead to South Africans feeling the pinch of the heavy tax burden that fuel carries. The 2025 levy increase will see the total tax on petrol rising to R6.37, including the R2.18 Road Accident Fund levy. Finance Minister Enoch Godongwana raised the General Fuel Levy, and announced various government expenditure cuts, in his third Budget Speech that was proposed on May 21. These measures were aimed at financing the budget shortfall that resulted after the previously announced Value Added Tax (VAT) increase was cancelled, following considerable political pressure. On Thursday the Economic Freedom Fighters (EFF) launched an urgent court application to suspend the fuel levy increase. Unless the Western Cape High Court rules in their favour, June's fuel price relief will be muted to say the least. IOL
