The Department of Mineral Resources and Energy has published the official fuel adjustments for August, which bring some relief to motorists following months of massive price hikes for both petrol and diesel.
The decrease in all grades of fuel starts from Wednesday, 3 August. The department also announced the reduction in the price of illuminating paraffin and an increase in the price of gas.
The price adjustments are as follows:
| Inland | July official | August official |
| 95 petrol | R26.74 | R25.42 |
| 93 petrol | R26.31 | R24.99 |
| 0.05% diesel (wholesale) | R25.40 | R24.52 |
| 0.005% diesel (wholesale) | R25.53 | R24.62 |
| Illuminating paraffin | R19.86 | R18.42 |
Petrol prices will be coming down by R1.32 per litre on Wednesday 3 August 2022, with the price of diesel dropping slightly less between 88 and 91 cents per litre.
The decrease was influenced by a number of factors, including the decline in Brent Crude oil and petroleum product prices throughout the review period accompanied by declining demand for Brent Crude oil. However, the depth of the fall in the fuel prices was diminishing as the rand deteriorated against the dollar during the same period.
The August price reduction would have been over R2, had it not been for the terminating government’s fuel levy, adding 75 cents per litre back to the price.
The Automobile Association (AA) says the outlook for petrol prices in South Africa is looking positive, with the possibility of another price drop in September, if current conditions continue.
Source: Business Tech, Zawya, Car Magazine, image from Twitter: Cars