The Central Energy Fund has confirmed that the changes to fuel prices in South Africa have been delayed by a day, with the new pricing structure only approved in the past day.
This means the new pricing will only take effect from Thursday, 4 July, 2024, instead of Wednesday, 3 July.
The CEF media team confirmed that approvals for the release were only given on Wednesday.
This is a departure from the historic implementation date of the first Wednesday of a new month and reportedly reflects the delays in forming a new administration and getting new ministers in government.
Notably, president Cyril Ramaphosa only confirmed his new cabinet on Sunday, 30 June, and the cabinet was only sworn in on Wednesday, 3 July—the day the changes were supposed to take effect.
Further changes to the Department of Mineral Resources and Energy, which determines the price changes, is that is has now been split up into the Department of Electrcity and Energy, under minister Kgosientsho Ramokgopa, and the Deparment of Petroleum and Mineral Resources, under Gwede Mantashe.
Despite the delay, South African motorists will at least get to enjoy lower fuel prices for the month, helped by solid market conditions in June.
This includes:
- The average Brent Crude oil price decreased from 82.98 US Dollars (USD) to 82.24 USD per barrel, during the period under review.
- The average international product prices of petrol decreased following the lower brent crude oil prices during the period under review.
- The Rand appreciated slightly, on average, against the US Dollar (from 18.46 to 18.44 Rand per USD) during the period under review when compared to the previous one.
- The slate levy decreases by 4.38 cents per litre on the prices of both diesel and petrol.
The table below outlines the changes:
| Fuel | Change |
| Petrol 93 | decrease of 105 cents per litre |
| Petrol 95 | decrease of 99 cents per litre |
| Diesel 0.05% (wholesale) | decrease of 30 cents per litre |
| Diesel 0.005% (wholesale) | decrease of 24 cents per litre |
| Illuminating Paraffin | decrease of 18 cents per litre |
| LPGAS | decrease of 22 cents per kg |
This is how the price changes will reflect at the pumps from 4 July (Diesel prices reflect wholesale, pump prices will differ):
| Inland | June Official | July Official |
| 93 Petrol | R23.91 | R22.86 |
| 95 Petrol | R24.25 | R23.26 |
| Diesel 0.05% (wholesale) | R20.96 | R20.66 |
| Diesel 0.005% (wholesale) | R21.15 | R20.91 |
| Illuminating Paraffin | R15.20 | R15.02 |
| LPGAS (per kg) | R36.31 | R36.09 |
| Coastal | June Official | July Official |
| 93 Petrol | R23.12 | R22.07 |
| 95 Petrol | R23.46 | R22.47 |
| Diesel 0.05% (wholesale) | R20.17 | R19.87 |
| Diesel 0.005% (wholesale) | R20.39 | R20.15 |
| Illuminating Paraffin | R14.20 | R14.02 |
| LPGAS (per kg) | R33.35 | R33.13 |
Read: Bakkie prices in South Africa vs Australia vs UK vs USA and more
