Here is the official petrol price for August

The Department of Petroleum and Mineral Resources has published the official fuel price adjustments that will kick in on Wednesday, 7 August 2024.

Reflecting the tight range in recoveries over July, the fuel price adjustments for August are not major – although the prices were ultimately supported by range-bound oil prices and a generally stronger rand versus the US dollar.

This has translated to another small cut at the pumps, with prices coming down by 15 cents per litre for petrol and between 17 and 28 cents per litre for diesel.

The table below outlines the changes:

The average Brent Crude oil price increased from $82.24 to $83.55 per barrel during the period under review. The main contributing factors were the decline in US inventories, reduced production from Canada due to the wildfires, tensions in the Middle East, and continued production cuts by OPEC.

The average international product prices for petrol increased slightly on average as the summer seasonal demand in the Northern Hemisphere improved, while diesel and illuminating paraffin prices decreased on average during the period under review.

The rand appreciated, on average, against the US Dollar (from R18.44 to R18.23 per USD) during the period under review when compared to the previous one. This led to lower contributions to the Basic Fuel Prices of all products by about 14 cents per litre.

The cumulative slate amounted to a positive balance of R1.8 billion for petrol and diesel of at the end of June 2024. In line with the provisions of the Self-Adjusting Slate Levy Mechanism, a slate levy of zero cents per litre remains in the price structures of petrol and diesel with effect from the 7 August 2024

This is how the price changes will reflect at the pumps (Diesel prices reflect wholesale, pump prices will differ):

Read: Petrol price shock for South African motorists