Motoring

Here’s the new August 2024 petrol price you can expect this week

Luis Monzon

5th August 2024

The August 2024 petrol price has been revealed by the Central Energy Fund under the Department of Mineral Resources.
Once again the prices are headed for a decrease, with both grades of petrol dropping by 15 cents in Gauteng.
This marks the third month in a row that prices have fallen, can South Africans enjoy a fourth?

Changes to the petrol price in South Africa are expected by drivers on Wednesday 7th August 2024, this week, and it looks like it will be more good news. Following a string of slumping prices since June, the August 2024 price of petrol, diesel and other fuels will see a slight decrease compared to the last two months.

But we doubt motorists will be complaining too much about the news. According to the Central Energy Fund (CEF), which is under the Department of Mineral Resources, the August 2024 changes will be in line with the following:

Petrol 93 to decrease by 15 cents per litre,
Petrol 95 to decrease by 15 cents per litre,
Diesel 0.05 percent to decrease by 28 cents per litre,
Diesel 0.005 percent to decrease by 17 cents per litre,
Illuminating Paraffin (wholesale) to decrease by 22 cents per litre,
Liquid petroleum gas to decrease by 13 cents per kg.

The following is based on a media statement issued by the CEF, but it is important to note that the prices primarily reflect those expected in the Gauteng province, with provinces closer to the coast to see potentially larger decreases in price.

According to the CEF, the decreases are once again attributed to the Rand gaining against the US Dollar, from R18.44 to R18.23 during the period under review. “This led to a lower contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 13.86 c/l, 13.80 c/l, 14.01c/l respectively,” the CEF said.

The slate levy also remains unchanged at 0, effective Wednesday, which also ensured lower prices this month. However, according to the CEF’s latest daily price predictions as of 1st August 2024, the basic petrol and other fuel prices in South Africa seem to be on the upward, which may mean bad news come September.