Latest news with #RobertMaake
The Citizen
03-06-2025
- 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
02-05-2025
- Automotive
- The Citizen
Good news: Petrol and diesel prices to drop from Wednesday, 7 May
Motorists will get much-needed relief at the petrol pumps next week. Several factors, including the international petroleum product prices and the rand/US dollar exchange rate, contributed to the decrease in petrol and diesel prices. Picture: iStock South African motorists will be paying less for petrol and diesel at the pumps from next week. The petrol price decrease from Wednesday, 7 May 2025, will be a relief for cash-strapped motorists after the 0.5% VAT increase. Petrol and diesel prices The Department of Mineral Resources and Energy (DMRE) announced that the price of 93-octane will decrease by 22 cents per litre, while 95-octane petrol will also cost 22 cents per litre less. The price of diesel (0.05% sulphur) decreases by 42 cents per litre, while diesel with 0.005% sulphur goes down by 41 cents per litre. Meanwhile, illuminating paraffin will cost 31 cents less per litre, while the price of LP gas increases by 46c/kg. ALSO READ: Gloves off as Chery Tiggo Cross hybrid shoots for Corolla Cross How much will fuel cost you? When the fuel price increase kicks in, a litre of 93 unleaded petrol will cost R21.29 per litre, while 95 unleaded will be R21.40. The wholesale price of 0.05% diesel will increase to R18.93 per litre, and 0.005% will cost R18.91. 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. '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. 'These factors led to lower contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 51.06 cents per litre (c/l), 71.28 c/l and 61.32 c/l respectively,' Maake said. Brent Crude oil price Maake said the average Brent Crude oil price decreased from 71.04 US Dollars (USD) to 66.40 USD during the period under review. 'The tariff and trade war initiated by the US which has raised global economic recession concerns and a possible lower demand for crude oil, and oversupply of oil from non-OPEC countries and the anticipated increase in oil production by OPEC+ members.' Rand/US dollar exchange Maake said the the Rand depreciated on average, against the US Dollar (from 18.30 to 18.84 Rand per USD) during the period under review when compared to the previous one. 'This led to higher contributions to the Basic Fuel Prices of petrol, diesel and Illuminating Paraffin by 29.13 c/l, 30.34 c/l and 30.24 cents per litre (c/l) respectively'. Slate levy Maake said the cumulative slate amounted to a positive balance of R3.9 billion for petrol and diesel of at the end of March 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 7th of May 2025'. ALSO READ: Cape Town F1 Grand Prix proposal aims to build on World Cup legacy
