The new fuel price adjustments come into effect today following strong recoveries to the global oil price and rand-versus-dollar value at the start of August, Cape {town} Etc reports.
According to the Department of Mineral Resources and Energy , the main reasons for the fuel price adjustments include:
- A decrease in Brent Crude oil prices from $85.55 to $78.54
- A decrease in international petroleum product prices, resulting in lower contributions to the Basic Fuel Prices of petrol by 85.59 c/l and 78.40 c/l, diesel by 93.55 c/l and 67.63 c/l and illuminating paraffin by 91.86 c/l
- The rand appreciated on average against the Dollar from R18.23 to R18.05, resulting in lower contributions to the Basic Fuel Prices of all products by over 10.00 cents per litre
- The implementation of the Slate Levy
- A 5.3 c/l increase in the price structures of petrol to accommodate the wage increase for Forecourt employees in line with the Motor Industry Bargaining Council (MIBCO) Agreement
Based on current local and international factors, the fuel prices for September 2024 will be adjusted as follows:
