Cape Town – South Africans are set to get some relief at the fuel pumps, as the sums are pointing towards substantial price decreases for petrol and diesel in August.
According to The Citizen, the Department of Mineral Resources has confirmed that there would be a reduction in fuel prices in August.
The announcement came on the back of the relief of international petroleum product prices, including crude oil prices.
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By the close of business on Tuesday, 25 July, the price of Brent Crude oil was hovering around 105 US dollars per barrel, a reduction on average of about 10% compared to the average price for June 2022, the report said.
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, Fin24 reported.
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Source: AFP
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