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Petrol price June 2020 - Here is the official June petrol, diesel prices

Jun 2, 2020
Petrol price June 2020 - Here is the official June petrol, diesel prices

Port Elizabeth - There is some bad news for motorists returning to work after the easing of the COVID-19 lockdown to Alert Level 3. Minister of Mineral Resources and Energy, Gwede Mantashe, announced steep petrol price increases for June 2020.

South Africa’s fuel prices are adjusted on a monthly basis, 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 the international level, including importation costs, e.g. shipping costs.

According to the Department of Energy, the main reasons for the fuel price adjustments are due to:

  • The contribution of the Rand/US Dollar exchange rate - The Rand appreciated slightly, on average, against the US Dollar (from 18.47 to 18.17 Rand per USD) during the period under review when compared to the previous one. This led to lower contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by over 6.00 c/l.
  • The increase in the prices crude oil - The average Brent Crude oil price increased from 20.00 USD/barrel to 27.63 USD/barrel. The main reason for the higher oil prices is that OPEC, Russia and other oil producing nations agreed to reduce oil production by about 10 million barrels per day during a meeting in April 2020. This effectively removed about 10% of global supply of oil.
  • The Petroleum Products Prices - On the finished products, the international prices of all refined petroleum products also increased following that of crude oil resulting in average under recoveries of over 125.87 c/I on petrol and 28.90 c/l on diesel and 46.41 c/l on Illuminating Paraffin. The demand for refined products also increased as the easing of lockdown started in the US and other countries. It is important to note that the price of petrol is still on average R2.00 lower than it was at the beginning of the lockdown.

Petrol price June 2020

Based on current local and international factors, the fuel prices for June 2020 will be adjusted as follows:

  • Petrol (both 93 ULP and LRP): one hundred and eighteen cents per litre (118.00 c/l) increase;
  • Petrol (both 95 ULP and LRP): one hundred and eighteen cents per litre (118.00 c/l) increase;
  • Diesel (0.05% sulphur): twenty-two cents per litre (22.00 c/l) increase;
  • Diesel (0.005% sulphur): twenty-one cents per litre (21.00 c/l) increase;
  • Illuminating Paraffin (wholesale): forty cents per litre (40.00 c/l) increase;
  • SMNRP for IP: fifty-four cents per litre (54.00 c/l) increase;
  • Maximum LPGas Retail Price: one hundred and ninety-eight cents per kilogram (198.00 c/kg) increase.

The fuel prices schedule for the different zones will be published on Tuesday.

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