South Africa cuts petrol, diesel prices for July as global oil costs ease

JOHANNESBURG, June 30 — South Africa’s Department of Mineral and Petroleum Resources on Tuesday announced the first reduction in petrol and diesel prices in several months. Minister of Mineral and Petroleum Resources Gwede Mantashe said the latest adjustments were driven mainly by lower international oil prices and a stronger rand against the U.S. dollar.

During the review period ending in June, the average price of Brent Crude decreased from 104.59 U.S. dollars to 86.53 dollars per barrel. Meanwhile, the rand strengthened against the U.S. dollar from 16.52 rand to 16.38 rand per U.S. dollar.