(Source: BusinessTech)
The Department of Mineral Resources and Energy has published the official fuel price adjustments for June 2023.
Petrol prices will be decreasing by 71 cents per litre, while diesel will be coming down by between 80 cents and 84 cents per litre.
The changes will come into effect from Wednesday, 7 June 2023.
| Fuel | Price change |
| Petrol 93 | decrease of 71 cents per litre |
| Petrol 95 | decrease of 71 cents per litre |
| Diesel 0.05% | decrease of 84 cents per litre |
| Diesel 0.005% | decrease of 80 cents per litre |
| Illuminating Paraffin (wholesale) | decrease of 43 cents per litre |
| LPGAS | increase of 75 cents per kilogram |
The Minister of Finance approved an increase of 1.0 c/l in the petrol and diesel price structures to allow the industry to recoup the levy payment for April 2023 with effect from 03 May 2023, however, this additional 1.0 c/l has been removed from the price structures of petrol and diesel with effect from 07 June 2023.
With effect from 07 June 2023, the Fuel Levy will decrease to 395.0 c/l and 381.0 c/l, respectively, in the petrol and diesel price structures.
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, compared to the previous period.
The average Rand/US Dollar exchange rate from 26 April 2023 to 01 June 2023 was 18.9854 compared to 18.1331 during the previous period.
This led to a higher contribution to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 54.58 c/l, 50.88 c/l and 52.52 c/l, respectively.
In line with the provisions of the Self-Adjusting Slate Levy Mechanism, the Slate levy on petrol and diesel will remain at 0.00 c/l with effect from 07 June 2023.
