On Wednesday, the price of gasoline (both 93 and 95 unleaded) will be reduced by R2.06 a liter, while diesel will be reduced between R2.69 and R2.81.
A liter of 95 petrol will cost R21.40 in Gauteng and R20.75 on the coast.
Gasoline is now the cheapest since February 2022, when Russia’s invasion of Ukraine caused oil prices to spike.
Diesel will cost R21.23 a liter in Gauteng and R20.58 on the coast.
Diesel prices remain higher than gasoline prices and are still above levels last seen in April.
In a statement, the mineral resources and energy department said the average price of Brent oil fell from $88.77 a barrel to $85.08 over the past month.
“Oil prices continued to fall on fears of a global economic downturn,” the department said.
The rand also strengthened slightly against the dollar.
Local fuel prices are determined by international oil prices, as well as the dollar value of the rand, since South Africa buys oil in dollars.
EXPLAINER | This is why SA won’t get Russian fuel at a cut price
The price of illuminating paraffin will drop by R1.93 per litre.
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