Petrol price decrease

In the first half of 2022, fuel prices in South Africa skyrocketed, placing a severe strain on household budgets whilst depressing commodity prices. The mid- ...

“Decreases offer immediate relief but increases filter into the economy over time, especially as those sectors affected by them don’t immediately adjust their prices downward but instead wait for more consistent fuel cuts that lower their input costs. The decrease was influenced by a number of variables, including the decline in Brent Crude oil and petroleum product prices throughout the review period accompanied by declining demand for Brent Crude oil. As a result of the announcement of fuel price reductions that would provide some respite to motorists who were severely overburdened, that signal came to pass toward the end of July.

With petrol, paraffin, diesel prices set to drop on Wednesday following the Department of Mineral Resources and Energy's fuel price announcement, ...

The average household will continue to be under pressure following months of continuously upward trending prices.” The Automobile Association (AA) said: “We stand by our call that a review of the fuel price structure, and an audit of the components that comprise the fuel price, is essential and long overdue to offer sustainable solutions that mitigate against rising fuel costs in the country,” the AA said. Cape Town - With petrol, paraffin, diesel prices set to drop on Wednesday following the Department of Mineral Resources and Energy’s (DMRE) fuel price announcement, economists said this will only bring slight relief after motorists and commuters battled to adjust to the steep fuel price increases from July and previous months.

Thanks to cooling brent crude prices, both grades of petrol are down by R1.32, diesel 0.05% Sulphur will cost 88 cents less while the price of diesel 0.005% ...

Loos said that elevated fuel and food inflation has prompted a lift in inflation expectations and, along with expected second-round effects, strengthened the risk of structurally higher inflation. However, the Fuel Retailers Association has warned such a move could result in making it even more expensive for consumers, it said. “In addition, upward pressure on property capitalisation rates and downward pressure on real commercial property values is still expected in the second half of 2022,” said Loos. Wholesale illuminating paraffin will cost R1.44 less with the retail price going down by at least R1.92. The effect of both recently rising interest rates and further expected ones, in response to the inflation surge, along with added economic pressure, all in part influenced by global oil and fuel price hikes, are still therefore expected to lead to slowing property sales activity in all major commercial property sectors in the current half of 2022, despite the latest fuel price drop. The strategist said that even following the mild fuel price decline, price levels will remain exorbitant at a Gauteng pump price of R24.99, which along with rising general inflation and interest rates exerts considerable financial strain on consumers and businesses alike.

If you are able to wait until Wednesday, 3 August to fill your tank, there will be a reprieve in the prices of both petrol and diesel.

If you are able to wait until Wednesday, 3 August to fill your tank, there will be a reprieve in the prices of both petrol and diesel. If you are able to wait until Wednesday, 3 August to fill your tank, there will be a reprieve in the prices of both petrol and diesel. If you are able to wait until Wednesday, 3 August to fill your tank, there will be a reprieve in the prices of both petrol and diesel.