Dear stakeholder,

The Ministry would like to communicate its July 2024 fuel price review decision as follows:

That the Ministry recorded:

• over-recoveries of 120.857 cents per litre on petrol
• over-recoveries of 96.398 cents per litre on diesel 50ppm
• over-recoveries of 111.915 cents per litre on diesel 10ppm

The Ministry resolved to:

• increase the industry margin by 23 cents to 189 cents per litre
• increase dealer’s margin for service station operators by 9 cents per litre to 192 cents per litre
• increase the road rates in the ready reckoner by 15%, which is essential for facilitating the distribution of fuel to various parts of the country.

Therefore, the Ministry is hereby announcing that:

• petrol prices will decrease by 80 cents per litre
• diesel 50ppm will decrease by 60 cents per litre
• diesel 10ppm will decrease by 70 cents per litre

Kindly find the detailed release attached hereon.

Download media release