The Department of Mineral Resources and Energy has published the official fuel adjustments for August 2022, with motorists finally getting some relief from hikes.
Diesel 0.005%The changes will be implemented on Wednesday, 3 August.
The reprieve comes as the average international product prices for petrol, diesel and illuminating paraffin decreased during the period under review, and the rand depreciated against the US dollar during the period under review, on average, when compared to the previous period. The average rand/US dollar exchange rate for the period 1 July to 28 July 2022 was 16.8719 compared to 15.7624 during the previous period. This led to a higher contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 95.66 c/l, 103.68 c/l and 105.12 c/l respectively.
“The Minister of Finance and Minister of Mineral Resource and Energy jointly announced on 31 May 2022 that an extension of the temporary reduction in the general fuel levy by 150.0 c/l on both petrol and diesel until 5 July 2022 and thereafter adjusting the relief to 75.0 c/l from 6 July 2022 until 2 August 2022,” the department said.
“The temporary relief will be withdrawn from 3 August 2022. With effect from 3 August 2022, the Fuel Levy in the price structure of petrol and diesel will therefore amount to 394.0 c/l and 380.0 c/l respectively in the price structure of both petrol and diesel.”This is how the price changes will reflect at the pumps:
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Petrol, paraffin prices to go down in August“South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors. International factors include the fact that SA imports both crude oil and finished products at a price set at the international level, including importation costs,” the department said in a statement.
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