• The Department of Mineral Resources and Energy (DMRE) has announced decreases in the cost of fuel per litre that will take effect from Wednesday this week.
• Both LRP and ULP will decrease by 71 cents per litre.
• A fluctuation in the Rand/Dollar exchange rate is cited for the decrease, along with other geopolitical issues.

South African motorists are set to receive a slight reprieve this week when it comes to the fuel price, as the Department of Mineral Resources and Energy (DMRE) confirmed a decrease in cost per litre for fuel across the board as of 7th June 2023.

For motorists, both LRP (lead replacement) and ULP (unleaded) will decrease by 71 cents per litre, according to the Department.

The full list of revised pricing for 7th June is as follows:

• Both Grades of Petrol 93 & 95 (LRP & ULP) – 71.00 cents per litre decrease in retail price,
• Diesel 0.05 percent Sulphur – 84.00 cents per litre decrease in wholesale price,
• Diesel 0.005 percent Sulphur – 80.00 cents per litre decrease in wholesale price,
• Illuminating Paraffin (Wholesale) – 43.00 cents per litre decrease in wholesale price,
• Illuminating Paraffin (SMNRP) – 58.00 cents per litre decrease in the Single Maximum National Retail price (SMNRP),
• Maximum Retail Price for LPGAS – 75.00 – cents per kilogram increase in the maximum retail price.

As such, it is only gas that is set to see an increase, which will see those wanting to keep their homes warm with heaters as the celsius continues to drop, start to feel the pinch.

While a number of geopolitical issues are cited for the decrease, as is often the case when the DMRE announces a change in fuel price, the Rand/Dollar exchange rate was a particular contributing factor.

“The average international product prices for Petrol, Diesel and Illuminating Paraffin decreased during the period under review. 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 26 April 2023 to 01 June 2023 was 18.9854 compared to 18.1331 during the previous period,” the Department shared in an official statement.

While the reprieve is welcome, the rising cost of living, means even further decreases would be needed before South African motorists truly start to feel a sense of relief.

[Image – Photo by Justus Menke on Unsplash]