The Minister of mineral and petroleum resources, Gwede Mantashe has announced a slight cut in petrol and diesel prices effective on Wednesday, 1 July 2026.
The price for 93 grade for petrol will decline R2.01 a litre, 95 will drop R1.96, and the diesel price will fall R3.14 a litre.
The price of diesel with 0.05% (500ppm) sulphur decreases by R3.14 per litre, and 0.005% (50ppm) sulphur goes down by R3.59 per litre.
Mantashe addressed the Central Committee of the National Union of Mineworkers (NUM) and announced the adjustments made in the department.
In a statement made by the department, the reductions were driven by a sharp decline in international crude oil prices and a stronger rand.
“The main reasons for the fuel price adjustments are due to Crude oil prices – The average Brent Crude oil price decreased from 104.59 US Dollars (USD) to 86.53 USD during the period under review. This is due to the signing of the Memorandum of Understanding (MOU) between the US and Iran, which has improved the global supply outlook.”
“The average international product prices followed the decreasing trend of crude oil during the period under review. These factors led to lower contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 295.97 cents per litre (c/l), 498.47 c/l and 510.51 c/l, respectively. The prices of propane and butane increased during the period under review.”
Additionally, the department highlighted the Slate Levy on petrol and diesel has been reduced from 157.74 cents to 113.94 cents per litre, while the maximum retail price of LPGas will increase slightly.
