Here is the official petrol price for September

The Department of Petroleum and Mineral Resources has published the official fuel price adjustments that will kick in on Wednesday, 4 September 2024.

Following a strong start to recoveries at the beginning of August, a stable global oil price and a stronger rand versus the dollar have to a sizeable cut for petrol and diesel.

This has translated to a fourth consecutive cut at the pumps, with prices coming down by 92 cents per litre for petrol and between 79 and 105 cents per litre for diesel.

The table below outlines the changes:

The average Brent Crude oil price decreased from 83.55 US Dollars (USD) to 78.54 USD per barrel, during the period under review. The main contributing factors are the increased production from major oil-producing countries despite lower demand concerns, and the anticipated interest rate cuts by the US Federal Reserve.

The average international petroleum product prices decreased on average during the period under review in line with lower crude oil prices. This led to lower contributions to the Basic Fuel Prices of petrol by 85.59 c/l and 78.40 c/l, diesel by 93.55 c/l and 67.63 c/l and illuminating paraffin by 91.86 c/l, respectively

The Rand appreciated on average, against the US Dollar (from 18.23 to 18.05 Rand 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 over 10.00 cents per litre.

The cumulative slate amounted to a positive balance of R 2.13 billion for petrol and diesel of at the end of July 2024. In line with the provisions of the Self-Adjusting Slate Levy Mechanism, a slate levy of zero cents per litre remain in the price structures of petrol and diesel with effect from the 4th of September 2024.

The Minister of Mineral Resources and Energy approved a 5.3 c/l increase in the price structures of petrol to accommodate the wage increase for Forecourt employees in line with the Motor Industry Bargaining Council (MIBCO) Agreement. This increase will be implemented from the 4th of September 2024.

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

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