Pretoria — Consumers across South Africa will see a decrease in fuel prices for all grades this June, providing some financial relief as announced by the Department of Mineral Resources and Energy (DMRE).

According to South African Government News Agency, the following price reductions will take effect: Petrol 93 and 95 (ULP and LRP) will decrease by R1.24 per litre, Diesel (0.05% sulphur) by R1.18 per litre, and Diesel (0.005% sulphur) by R1.08 per litre. Additionally, Illuminating Paraffin (wholesale) will see an 80 cents per litre decrease, the Single Maximum National Retail Price for illuminating paraffin will drop by R1.07 per litre, and the Maximum LP Gas Retail Price will decrease by R1.35 per litre.

The department outlined several factors contributing to the price adjustments. The average Brent Crude oil price fell from 88.10 USD to 82.98 USD per barrel. The drop in Brent Crude prices, coupled with the release of inventories in the US ahead of the Memorial Day holiday, resulted in lowered international product prices. This led to a decrease in the Basic Fuel Price (BFP) contribution for petrol by 76.16 cents per litre, for diesel by 60.00 to 71.00 cents per litre, and for illuminating paraffin by 50.20 cents per litre.

Furthermore, the Rand strengthened against the US Dollar, moving from 18.90 to 18.45 Rand per USD, which contributed to a reduction of about 30.00 cents per litre in the Basic Fuel Prices of all products.

The new fuel prices are set to be implemented starting tomorrow.