According to the latest data from the Central Energy Fund, petrol prices currently look set for cuts of between R1.19 and R1.22 per litre, depending on the grade of fuel. Diesel could be reduced by more than 80c – if the oil price and rand exchange rate remain at current levels. The fuel levy reduction, which attempted to cushion consumers from the impact of skyrocketing oil prices, will however be coming to an end on 2 August. The temporary reduction of R1.
"Despite this reprieve coming to an end on 2 August 2022, the department can confirm that there will still be a sizeable reduction in fuel prices including paraffin for South Africans. A formal announcement in this regard will be made by the end of the week," the department said.Brent crude is currently at around $104 a barrel, but hit a high of $123 in March, after Russia’s invasion of Ukraine roiled markets.
The process of deregulating the price of petrol has also begun, with the department saying on Wednesday that consultation on the introduction of the price cap for 93 Octane fuel has been"initiated." "This price cap will allow for the fuel suppliers who can pass the benefit to the consumer to do so. No disruptions are expected in the fuel market as 93 Octane accounts for a small portion of the market, however this will allow the department to monitor how the market will react to the capping of the price."
Fin24 Are these recent increases a result of saying no to paying ANC's E-tolls maybe 🙄 We never sent them install those structures on the roads you know...😔
Fin24 That's not even half of the amount of recent fuel increase. He that Cyril must reconsider bringing it down to what it was then we can talk 'sizeable'🤞. What's R1.22?
Fin24 Will food prices also decrease? 🤔
Fin24 Down 10 cents in August ..And up R3 in September...ANC Mind Fuck Games in full swing again.
Fin24 😂😂😂 It was not even supposed to get where it is. It actually should be R6.50 p/L kahle kahle!
Fin24 Reduce by 50c then october increase by 1.50c🤔😎
Fin24
Fin24 So in South Africa we are killed first then revived later? Shap👍🏾
Fin24 Nakweo relief ke ranta 🙄
Fin24 So now that the taxi guys threatened a shutdown.... Jikilikithi Jikilikithi there is a relief, we this Popeye tendencies
Fin24 Cut the fuel prices by 70% and the interest rate by 5% then we can breath and build the economy. Talk is too cheap sir, That all you are about “talking”
Fin24 They weren’t supposed to increase in the first place
Fin24 Yes but their stupid pointless levy system is back in full swing. So whats the point.
Fin24 Lol decrease by 5cent next month increase by R2
Fin24 The R1.70ć cut will make a huge difference
Fin24 R1. 19 🤣🤣🤣joke of a country
Fin24 With R10?
Fin24 Ja because R25 instead of R26 is going to make huge difference, the department of minerals should fuckoff. If they truly gave a shit about any SAfricans they will drop it to R10
Fin24
Fin24 Increase nge R15 the drop nge R1. 20 Yaa neh🙄
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Fin24 Wankers
Fin24 What relief a decrease of 1 rand and get increase of 2 rand in a month
Fin24 And the taxi want to add another money to charge the commuters
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Fin24 I'm sure it's just 20c
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