The Department of Mineral Resources and Energy (DMRE) has announced the fuel price adjustments for July 2022. Consumers will see price increases across the board.
The price of petrol per litre will increase by R2.37 for 93 octane and R2.57 for 95 octane. Individuals who purchase Diesel will have to fork out R2.31 more per litre at the pumps.
Here are the Fuel Price Adjustments For July
- Petrol 93: will increase by 237 cents per litre
- Petrol 95: will increase by 257 cents per litre
- Diesel 0.05% sulphur: will increase by 231 cents per litre
- Diesel 0.005% sulphur: will increase by 230 cents per litre
- Illuminating Paraffin (wholesale): will increase by 166 cents per litre
- Illuminating Paraffin (SMNRP): will increase by 221 cents per litre
While the Rand appreciated against the US Dollar during the period of review, other factors meant that motorists will have to tighten their belts. The average Brent crude oil price increased from $115 a barrel to $115.77 leading to higher contributions.
Another factor that contributed to the steep increase is the partial withdrawal of the temporary reduction of the fuel levy. While the relief has been in place for the past few months, the relief will be reduced by 75c in July. This cost will be passed on to the consumer.
The DMRE explained, “The Minister of Finance and Minister of Mineral Resource and Energy jointly announced on 31 May 2022 that an extension of the temporary reduction in the general fuel levy by 150.0 c/l on both petrol and diesel until 05 July 2022 and thereafter adjusting the relief to 75.0 c/l from 06 July 2022 until 02 August 2022. The temporary relief will be withdrawn from 03 August 2022.”