Good news for petrol and diesel prices in South Africa

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Good news for petrol and diesel prices in South Africa

Staff Writer

June 4, 2024
9:52 am

Estimated reading time: < 1 minute

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:

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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