New petrol prices for July delayed

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.