South Africa’s motorists can breathe a sigh of relief as the much-anticipated fuel price decrease for September 2024 has been officially confirmed by the Department of Mineral Resources and Energy (DMRE). Starting from Wednesday, September 4, the price of petrol and diesel will see significant reductions.
Both grades of petrol are set to drop by 92 cents per litre, bringing the cost of 95 Unleaded petrol down to R21.40 at the coast and R22.19 in Gauteng. The more affordable 93 Unleaded petrol will retail at R21.79 in Gauteng. This price adjustment means petrol will now be at its lowest level since February 2023, offering much-needed financial relief to South Africans.
Diesel prices will also see a significant decrease, with 500 ppm dropping by 79 cents and 50 ppm by R1.05 per litre. This will bring the wholesale price of 50ppm diesel to R18.93 at the coast and R19.69 in inland regions, marking the lowest prices since July 2023.
For consumers, this means noticeable savings at the pump. A small car requiring around 30 litres of petrol will now cost approximately R27.60 less to fill up, while a larger vehicle with a 50-litre tank will see savings of R46. However, it’s important to note that the official fuel price adjustments for September, expected to be announced imminently by the DMRE, could vary slightly due to factors such as the Slate Levy.
The price drop is largely attributed to stronger global oil prices, which have contributed 85 cents to the petrol over-recovery, with an additional 11 cents attributed to a stronger rand.
This decrease comes as a welcome reprieve for South Africans, who have faced steadily rising fuel costs over the past year.
