{"id":805259,"date":"2025-01-02T18:00:00","date_gmt":"2025-01-02T16:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=805259"},"modified":"2025-01-02T13:59:16","modified_gmt":"2025-01-02T11:59:16","slug":"r1-64-petrol-price-cut-for-south-africa-in-a-year","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/energy\/805259\/r1-64-petrol-price-cut-for-south-africa-in-a-year\/","title":{"rendered":"R1.64 petrol price cut for South Africa in a year"},"content":{"rendered":"\n

On 1 January 2024, a litre of Petrol Unleaded 93 cost R22.79. At the end of the year, the price declined to R21.15 per litre.<\/p>\n\n\n\n

This means South African motorists paid R1.64 less for a litre of petrol in December 2024 than they did at the beginning of the year.<\/p>\n\n\n\n

South Africa\u2019s fuel prices are mainly affected by the internal oil price and the rand\u2019s exchange rate against the US Dollar.<\/p>\n\n\n\n

South Africa imports most of its crude oil, which is used to produce petrol and diesel. The oil is traded in US dollars.<\/p>\n\n\n\n

When the rand is weak, oil imports are more expensive, which leads to higher petrol prices. When the rand is strong, petrol prices can be cut.<\/p>\n\n\n\n

When the year started, the rand was trading at R18.29 to the US dollar and a barrel of Brent crude cost $77.<\/p>\n\n\n\n

The rand weakened significantly as the generation election loomed, trading at over R19 to the greenback in February and April.<\/p>\n\n\n\n

The price of oil also increased in the first few months of 2024. It rose from $75.89 on 2 January 2024 to $91.17 on 5 April 2024.<\/p>\n\n\n\n

However, the oil price came under pressure for the rest of the year and declined to $73.79 on 27 December 2024.<\/p>\n\n\n\n

The rand also strengthened after a favourable general election outcome and the formation of a government of national unity.<\/p>\n\n\n\n

It improved to R17.10 to the US Dollar in September 2024, which helped to drive down the petrol price to under R21 per litre in October 2024.<\/p>\n\n\n\n

Over the last three months of the year, the rand weakened against the greenback, which saw the petrol price rise again.<\/p>\n\n\n\n

It broke to R21 per litre again in December, when the price of Petrol Unleaded 93 increased to R21.15.<\/p>\n\n\n\n

The Department of Petroleum and Mineral Resources announced further petrol price increases on 28 December 2024, which took effect on 1 January 2025.<\/p>\n\n\n\n

The price of Petrol Unleaded 93 increased by 19.00 cents per litre due to the weaker rand at the end of the year.<\/p>\n\n\n\n

The average ZAR\/USD exchange rate in December was R18.11 compared to R17.93 during the previous month.<\/p>\n\n\n\n

The Central Energy Fund (CEF) said the weaker rand led to a higher contribution to the basic fuel prices of petrol, diesel and illuminating paraffin.<\/p>\n\n\n\n

The table below shows how South Africa\u2019s petrol price changed over the last thirteen months.<\/p>\n\n\n\n

Date<\/strong><\/td>Fuel Price<\/strong><\/td><\/tr>
2023\/12\/06<\/td>22.79<\/td><\/tr>
2024\/01\/03<\/td>22.17<\/td><\/tr>
2024\/02\/07<\/td>22.92<\/td><\/tr>
2024\/03\/06<\/td>24.13<\/td><\/tr>
2024\/04\/03<\/td>24.78<\/td><\/tr>
2024\/05\/01<\/td>25.15<\/td><\/tr>
2024\/06\/05<\/td>23.91<\/td><\/tr>
2024\/07\/03<\/td>22.86<\/td><\/tr>
2024\/08\/07<\/td>22.71<\/td><\/tr>
2024\/09\/04<\/td>21.79<\/td><\/tr>
2024\/10\/02<\/td>20.73<\/td><\/tr>
2024\/11\/06<\/td>20.98<\/td><\/tr>
2024\/12\/04<\/td>21.15<\/td><\/tr>
2025\/01\/01<\/td>21.34<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n
\n\n\n\n

USD ZAR exchange rate<\/strong><\/h2>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n
\n\n\n\n

Brent crude price in USD<\/strong><\/h2>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n
\n\n\n\n

South African petrol price in ZAR<\/strong><\/h2>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n
\n","protected":false},"excerpt":{"rendered":"

On 1 January 2024, a litre of Petrol Unleaded 93 cost R22.79. At the end of the year, the price declined to R21.15 per litre.<\/p>\n","protected":false},"author":10,"featured_media":785783,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9874],"tags":[20133,19909,2171],"class_list":["post-805259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-central-energy-fund-cef","tag-diesel-price","tag-petrol-price"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/805259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=805259"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/805259\/revisions"}],"predecessor-version":[{"id":805263,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/805259\/revisions\/805263"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/785783"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=805259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=805259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=805259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}