Both petrol and diesel showed over-recoveries in May, translating into relief at the pumps for motorists in June.
The Department of Mineral Resources and Energy has published the latest official fuel price adjustments, which take effect from Wednesday, 5 June 2024.
The department pointed to the following changes:
Petrol 93 - decrease of 124 cents per litre
Petrol 95 - decrease of 124 cents per litre
Diesel 0.05% (wholesale) - decrease of 119 cents per litre
Diesel 0.005% (wholesale) - decrease of 109 cents per litre
Illuminating Paraffin - decrease of 80 cents per litre
The average international product prices for Petrol, Diesel and Illuminating Paraffin decreased during the period under review.
In Gauteng, petrol will retail for R24.25 a litre, and on the coast, it will cost R23.46. Petrol prices had seen four consecutive hikes since January. Diesel prices will be around R20.97 in Gauteng and R20.18 on the coast.
The rand firmed against the dollar in recent weeks, from R18.90/$ to R18.45, on greater optimism about rate cuts in the US and a market-friendly election result in South Africa.
The average Brent crude oil price fell from $88.10 a barrel to below $83 over the past month.
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