Diesel price goes up, both grades of petrol decrease in August
The Department of Mineral and Petroleum Resources announced the fuel prices for August on Monday.
Petrol users can expect some relief at the pumps, with both petrol grades decreasing by 52 cents per litre, according to the department’s spokesperson, Robert Maake.
However, diesel users can expect to dig a little deeper in their pockets from Wednesday.
“Both grades of petrol will decrease by 52c/l. Diesel will increase by R1.23 and R1.38 per litre. Illuminating paraffin will increase by R2.03 per litre at the retail level, and the maximum retail price of LP gas will decrease by R4.41 per kilogram countrywide and R5.03 per kilogram in Saldanha in the Western Cape.”
Maake said that while the average price of Brent crude oil had decreased during the period under review, several factors, such as trade restrictions imposed by Russia, led to an increase in diesel prices.
“The prices of diesel and illuminating paraffin increased due to supply shortages caused by the escalation of the Russia-Ukraine conflict, which resulted in export restrictions by Russia. The Rand weakened slightly against the US dollar during the same period, and the prices of propane and butane decreased during the period under review,” Maake explained.
On fuel-related levies, Maake said the slate levy was reduced by 52.56 cents per litre in the price structures of both petrol and diesel. This means the levy drops from 113.94 cents per litre to 61.38 cents per litre.
August marks the second month since the phasing out of the fuel levy relief that was implemented in May to cushion consumers against the effects of the Middle East conflict.
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