South Africa Slashes Petrol and Diesel Prices for July as Global Oil Costs Drop

South Africa has cut its petrol and diesel prices for July, offering relief to drivers and businesses. The reduction follows a decline in global oil costs. The price of petrol will drop by 1.05 rand per liter, while diesel will fall by 1.18 rand per liter. The new rates take effect on July 5. The decrease is linked to lower international crude oil prices, which have eased in recent weeks. This move helps reduce transport and production costs across the country. The government adjusts fuel prices monthly based on global trends and the rand’s exchange rate.