GLOBAL OIL SLUMP BRINGS RELIEF TO SOUTH AFRICAN FUEL PUMPS

South Africans get slight relief at the pumps as petrol and diesel prices ease following lower global oil costs and a stronger rand.

South africa Fuel pumps Petrol Relief Rands.
Fuel Pumps
Fuel Pumps


South African drivers will pay less for fuel this week, thanks to a global increase in oil prices and a stronger rand that has helped ease pressure at the pumps.

The Department of Mineral and Petroleum Resources announced on Tuesday that fuel prices will be adjusted downward from Wednesday, September 3, following weeks of consumer strain after August’s sharp increases.

Petrol 93 and 95 (ULP & LRP) will see a minor cut of 4 cents per litre, while diesel users will benefit more significantly, with prices falling by 56 to 57 cents per litre. Illuminating paraffin will decline by 37 cents wholesale, and LPG gas prices will fall by R1.32 nationally and R1.51 in the Western Cape.

The adjustments come as Brent Crude oil prices slid from $69.06 to $67.01 per barrel, pressured by rising output from OPEC+ members and non-OPEC producers, slower global growth, and trade tariff uncertainties. These factors pushed international petroleum product prices lower, trimming contributions to South Africa’s Basic Fuel Price by nearly 2 cents for petrol and over 54 cents for diesel.

A slightly stronger rand against the US dollar during the review period also cushioned the blow, shaving an additional 2 cents per litre off the final pump price.

From Wednesday, Gauteng motorists will pay R21.55 per litre for Petrol 95, while those along the coast will pay R20.72. Diesel 0.05% sulphur grades will cost R19.44 inland and R18.61 at the coast.

The relief, though modest, offers a welcome breather for households and businesses that have been grappling with elevated fuel costs in recent months.

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