Fuel prices will drop significantly on July 1, the Minister of Mineral and Petroleum Resources has announced.
Motorists will have some relief at the pumps as the Minister of Mineral and Petroleum Resources has announced decreases in the price of diesel and petrol, with effect from 1 July 2026.
The Department of Mineral and Petroleum Resources said in a statement that South Africa’s fuel prices are adjusted monthly, informed by international and local factors. International factors include the fact that South Africa imports both crude oil and finished products at a price set at international level, including importation costs such as shipping costs.
It said that the fuel price adjustments are due to the drop in the crude oil prices, a decrease in international petroleum product prices and a stronger rand compared to the US dollar during the period under review.
The average Brent Crude oil price decreased from 104.59 US Dollars (USD) to 86.53 USD during the period under review. This comes after the signing of the Memorandum of Understanding (MOU) between the US and Iran, which has improved the global supply outlook.
