Mineral and Petroleum Resources Minister Gwede Mantashe has announced that the price of Petrol 93 and 95 will decrease by 28c/ℓ, while the prices of diesel 0.05% and 0.005% sulphur will increase by 65c/ℓ and 63c/ℓ, respectively, from August 6.

Illuminating paraffin prices will increase by 32c/ℓ and liquefied petroleum gas prices will decrease by 69c/kg – and decrease by 78c/kg in the Western Cape.

The average Brent Crude oil price decreased from $69.36/bl to $69.09/bl during the period under review, owing to increased production in petroleum exporting countries and uncertainty caused by the looming US trade tariffs on various countries, including secondary tariffs that could affect demand for crude oil.

This led to lower contributions to the basic fuel price of petrol by 23.49c/ℓ and higher contributions to the basic fuel prices of diesel and paraffin by 69.94c/ℓ and 35.57c/ℓ, respectively.

The prices of diesel and paraffin increased owing to low stocks in the US, unplanned refinery shutdowns and closures of refineries in the EU, which has resulted in tight supply.

The prices of propane and butane also decreased during the period under review.